(Adds CEO comments, background)
LONDON, Nov 4 (Reuters) - Hungary-based carrier Wizz Air
warned that it faced headwinds over the winter months
but would be ready to take advantage of the "exceptional
opportunity" of next summer, after it returned to profit for the
July-September quarter.
For the three months to the end of September, budget airline
Wizz posted a net profit of 57 million euros ($65.99 million),
in line with analyst expectations, and said it was already back
flying as much as it did before the pandemic in 2019.
That puts Wizz, the fast-growing airline believed to be
behind a takeover bid for bigger rival easyJet in
September, ahead of many competitors whose capacity remains at
around 60-80% of 2019 levels.
But chief executive Jozsef Varadi told Reuters on Thursday:
"The next five months will be temporarily challenging".
Wizz's eastern European heartlands have lower vaccination
rates than the markets it has expanded into in western Europe,
plus like all airlines it is facing rising fuel prices, which
means it will likely make a loss this winter, as is common for
airlines in this period.
Looking to next summer, Varadi said that the end of pandemic
restrictions and pent up demand will make for a buoyant market
which Wizz would make the most of, having grown its fleet of
planes to add bigger, more fuel efficient models.
"I see that we will be exceptionally well-positioned for
taking advantage of the of the revamp of the market post-COVID,"
he said.
($1 = 0.8638 euros)
(Reporting by Sarah Young; editing by Costas Pitas)