Wizz Air flying through strong fourth quarter

Low-cost carrier Wizz Air was eyeing up a solid end to the financial year on Wednesday, with the Hungarian company claiming the strong performance seen in the first nine months had continued into the final quarter.

In a pre-close trading update, the FTSE 250 airline said a combination of robust ticket sales, lower fuel costs, strong load factors and its continued disciplined approach to cost management led to a better-than-expected financial performance.

The firm now expected to report underlying net profit for the year to 31 March at the top end of management guidance, between €200m and €210m (£158m and £166m).

"As Wizz Air approaches the 20 million passengers per year mark the company is again expected to report a strong financial performance for the full year,” said chief executive József Váradi.

“This performance, while also delivering a forecast 21% growth in passenger numbers this financial year, re-affirms the opportunity we see in Central and Eastern Europe,” he added.

Wizz Air was expected to report its preliminary results for the year to 31 March on 25 May.