January 29, 2020 / 7:30 AM / 21 days ago

Wizz Air upgrades annual profit forecast

FILE PHOTO: Wizz Air Airbus A320-232 plane HA-LWE taxies to take-off in Riga International Airport in Riga, Latvia January 17, 2020. REUTERS/Ints Kalnins

LONDON (Reuters) - European low-cost airline Wizz Air (WIZZ.L) upgraded its annual profit forecast on Wednesday, after a strong third quarter performance when it carried more passengers.

Wizz, which focuses on central and Eastern Europe, said it now expected full-year profits for the 12 months to the end of March to come in between 350 million euros to 355 million euros, up from a previous forecast of between 335 million euros to 350 million.

European short-haul airlines have benefited from strong travel demand in recent months, with Europe’s no.1 budget airline Ryanair (RYA.I) and no.2 easyJet (EZJ.L) both upgrading their outlooks in January.

Reporting by Sarah Young; editing by Kate Holton

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