BREAKING NEWS

BREAKING NEWS

Budget airline Wizz gains UK route licence, reiterates guidance

Budget airline Wizz gains UK route licence, reiterates guidance
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Kacper Pempel(Reuters)
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LONDON (Reuters) - Budget airline Wizz Air's British subsidiary has been granted a UK route licence to enable it to carry on flying to non-EU destinations from Britain regardless of the outcome of Brexit negotiations, the airline said on Wednesday.

Wizz Air UK was launched in May 2018 as part of the airline's Brexit contingency planning, and it was granted a UK route licence by the transport minister in the quarter ended December 31.

"This future-proofs the status of Wizz Air UK Limited as a British airline, regardless of the outcome of the negotiations," the airline said in a statement.

Wizz Air maintained its full-year net profit guidance range of 270 million euros (£235.92 million) to 300 million euros. It had lowered profit guidance in November, blaming higher fuel prices and disruption from air traffic control strikes in the summer.

"Where we will be within this range will depend on the extent of March yield pressures which will be affected year-on-year given Easter falls after the financial year-end in April and external factors such as Brexit uncertainty," the company said.

The airline posted 15 percent passenger growth in the quarter, while unit revenues were up 6 percent. The airline said it had adjusted its growth capacity to boost yields in the face of the higher fuel price.

(Reporting by Alistair Smout; editing by James Davey)

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