Reported 1 day ago
Wizz Air has reported a significant drop in annual profits, with a 61.7% decrease to €167.5 million attributed to 37 grounded aircraft awaiting engine repairs. This situation has led to a 23% decrease in share value and raises concerns about the airline's capacity to meet demand. Chief Executive Jozsef Varadi highlighted ongoing difficulties in the aviation supply chain and predicted that the airline would face these engine issues for another two to three years. As a result, Wizz Air will not provide guidance for 2026 amid uncertainty in delivery schedules and rising operational costs.
Source: YAHOO