WizzAir - Not as bad as it seems
Wizz Air reported its first quarter results for FY2019 which came below consensus. Solid passenger growth contributed to strong, but weaker-than-expected revenues which were led to an increase of 17.9% y-o-y to EUR553 million. It was mostly driven by passenger ticket revenues that rose by 24.5% on a yearly basis to EUR 330 million. Ancillary revenues were also up by 9.5% to EUR 223million, but also have to highlight that new cabin hand luggage policy which is effect from 29 October 2017 still influenced this result.
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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