Wizz Air (LON:WIZZ) confirmed on Tuesday that trading in the fourth quarter of its financial year is in line with expectations and net profit for the year will be at the top of its guidance range.
Shares in the company were over 4% higher during early trading on Tuesday.
For the year ended 31 March, the low-cost Central and Eastern European airline said that it expects to deliver a net profit for the year in the upper end of its guidance range of €270 million and €300 million.
The company also revealed its March passenger statistics on Tuesday. Wizz Air grew its March passenger numbers by 10% when compared to the same period a year prior.
Previously its February passenger volumes increased 13%.
Customer demand across the airline’s markets remains strong. This matches a robust operational performance for the month of March as the airline only cancelled one flight, compared to 68 cancelled in March 2018.
The trading update comes ahead of the company’s preliminary results for the financial year.
Elsewhere in aviation, EasyJet (LON:EZJ) recently maid headlines following its Brexit warning. It announced yesterday that it was more cautious about its financial performance in the second half of its financial year.
Though EasyJet’s results from the first half are expected to be in line with expectations, Brexit uncertainty is causing a weaker customer demand in the market. The airline said that its outlook for the second half is more cautious.
Tui (ETR:TUI1) also made headlines recently after it warned on the impacts the grounding of the Boeing 737 max fleet will have upon its profits, expecting it to cost the travel company £258 million.
At 08:49 BST shares in Wizz Air Holdings plc (LON:WIZZ) were trading 3.96%. Shares in EasyJet (LON:EZJ) and Ryanair (LON:RYA) slipped slightly negative, whilst Tui (ETR:TUI1) were up on Tuesday morning.
