Low-cost airline operator Wizz Air Holdings has today raised its profit forecast for the year, citing strong performance during the European summer and an expanded network.
The airline operator, however, cautioned on lower unit revenues continuing through the second half of the year ending March 2016, as lower fuel prices led to reduced air fares.
The company joins peers EasyJet and Ryanair in raising forecasts as airlines capitalise on record demand for beach holidays across Europe and lower oil prices.
Wizz Air said it now expects a net profit of €190-200m, excluding items, in the 2016 financial year.
The company had earlier expected a net profit of €175-185m for the year.
Wizz Air, which operates in central and eastern Europe, said it had "very limited visibility" for demand in the fourth quarter of the year.
