Wizz profits gain altitude despite costs

Higher passenger numbers saw budget airline Wizz Air (WIZZ) hit the top end of its lowered profit guidance for the 12 months to 31 March off the back of a 16.7 per cent increase in passenger numbers. Wizz had dropped its guidance on net profit from €310m-€340m (£274m-£301m) to €270m-€300m, but hit €292m in the year to March.  At the same time, fuel costs jumped 39.2 per cent year on year to €668m, rising alongside staff costs (up 34.6 per cent) and aircraft rental (up 18 per cent).