Wizz Air blames ATC strikes for profit fall

posted on 25th July 2018 by Justin Burns
Wizz Air blames ATC strikes for profit fall

Fast-growing low-cost carrier Wizz Air’s profits were down by €8.1m for the three months to 30 June on the first quarter and it has blamed the fall on disruptions caused by the air traffic control strikes in Europe.

Profit came in at €50 million due to “higher than expected disruption costs” and the airline said strikes led to a 426 per cent increase in cancellations, from 34 last year to 145 in the second quarter.

However, Wizz Air grew revenues 17.9 per cent to €553.4 million with ticket revenues up 24.5 per cent to €330.4 million.

Yesterday, the Budapest-headquartered carrier along with IAG, Ryanair and easyJey officially complained to the European Commission over the ATC strikes, saying France was in breach of EU law as the strike by air traffic controllers is was restricting freedom of movement.

Wizz Air chief executive, József Váradi said with disruptions likely to continue into autumn and on the back of a continued rise in fuel prices in Q1, the company took the decision to trim its full year growth target from 20 per cent to 18 per cent.