Wizz Air performs well, but Ryanair performs even better

Wizz Air has turned from a loss to a profit this year, while Ryanair did so last year.

Hungarian low-cost airline Wizz Air’s net profit for the 2023-2024 financial year could fall between EUR 350-450 million. This is a huge improvement compared to last year’s loss of EUR 535 million for József Váradi’s company.

This expected gain could occur if there are no adverse changes. An example could be the negative effects of the war in Ukraine.

The expected improvement in net profit of around EUR 900-1000 million per year is explained by a recovery in tourism and a fall in fuel prices, portfolio.hu reports.

According to Wizz Air, consumer demand remains very strong. The number of summer bookings confirms this. Wizz Air is expecting 67 million passengers this financial year.

Mfor.hu notes that Irish low-cost airline Ryanair overcame the difficulties after the coronavirus virus last year and closed the financial year with a profit.