FY guidance remained unchanged despite weak Q3
- Wizz Air’s fiscal Q3 report was disappointing as revenue, EBITDA and net income missed our estimates. Having said that, Wizz Air made no change to the GTF engine removal projections and continue to expect a total of around 40 aircraft grounded at the end of March. Wizz Air continue to guide a net income for fiscal 2024 in the range of between EUR 350-400mn, supported by positive trading, higher utilization of operational fleet, one-off benefits from OEM cost protection and credits from deferred sale and lease-back transactions materializing in the fourth quarter.
Wizz Air Holding is a European airline. As of Mar 31 2017, Co. provided more than 500 routes from 28 bases, connecting 141 destinations across 42 countries. Co. has two reportable segments: the airline and the tour operator business units, marketed under the Wizz Air and Wizz Tours brand names, respectively. Wizz Air sells flight tickets and related services to external customers and, to an extent, to Wizz Tours. Wizz Tours sells travel packages to external customers covering the network of Wizz Air.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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