EUROPEAN budget airline Wizz Air yesterday increased its profit guidance for its financial year to between €350m (£296m) and €355m on strong third-quarter results.

The carrier said yesterday that passenger numbers grew 23.2 per cent in the three months to 31 December compared to the same quarter the previous year.

Net profit for the period was €21.4m compared to a loss of €21m in the same period last year.

Revenue rose 24.6 per cent to €637.3m, up from €511.3m last year.

Wizz Air chief executive Jozsef Varadi said: "Wizz Air again reports a record financial performance in the third quarter as our low-fare, low-cost business model delivered a net profit of €21.4m compared to a breakeven operational outcome in the same period last year."

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