Wizz Air Raises Forecast On Strong Demand

Wizz Air has raised its profit forecast for the year, citing strong summer performance and an expanded network.

The airline, 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 easyJet and Ryanair in raising forecasts as airlines experience strong demand for beach holidays across Europe and lower oil prices.

Wizz Air now expects a net profit of EUR€190 million to EUR€200 million (USD$213.8 million - USD$225.1 million), excluding items, in the 2016 financial year.

The company earlier expected a net profit of EUR€175 million to EUR€185 million 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.