Wizz Air Lowers Profit Forecast Amid Fleet Groundings, Rising Costs

  • 4 Feb 2025 10:36 AM
  • Budapest Business Journal
Wizz Air Lowers Profit Forecast Amid Fleet Groundings, Rising Costs
According to a recent statement, Hungarian low-cost airline Wizz Air has cut its annual net income forecast for the second time in six months, citing mounting costs linked to aircraft groundings and economic uncertainty.

“Wizz Air has continued to navigate the complexity imposed on its operations from the ongoing grounding of some 20% of its fleet, due to the well-documented GTF engine issue. This is reflected in our unit cost performance,” CEO József Váradi said.

The airline faces operational disruptions and higher costs due to issues with Pratt & Whitney GTF engines.

Still, it remains optimistic about the coming months, particularly with a planned full return to service in Tel Aviv this summer.

European airlines are eyeing a better 2025 following a challenging 2024, marked by soaring costs, geopolitical instability, and capacity constraints, which forced some carriers to lease additional aircraft to maintain key routes.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.