FX.co ★ Wizz Air Turns To Profit In FY24; Total Revenue Up 30.2%

Wizz Air Holdings Plc (WIZZ.L) has announced a net profit of €365.9 million for fiscal year 2024, a significant turnaround from a net loss of €535.1 million reported last year. Earnings per share came in at €2.96, in stark contrast to a loss of €5.07 per share previously. The company posted an operating profit of €437.9 million, reversing an operating loss of €466.8 million from the prior year.

For the full year ending 31 March 2024, the airline's total revenue saw a robust increase of 30.2%, reaching €5.07 billion, up from €3.90 billion the previous year. Revenue from passenger tickets surged by 38.5%, totaling €2.80 billion. The total number of passengers carried rose by 21.4%, reaching 62.0 million.

Looking ahead to fiscal 2025, Wizz Air forecasts net income to be in the range of €500 million to €600 million, based on current exchange rates.