Wizz Air Holdings PLC plunged 26% at the start of negotiations after the airline at a reduced price said profits that lacked estimates and abstained to provide advice, quoting poor visibility.
The decline marks the steepest decline for the Hungarian carrier at low prices in more than five years. Actions dropped from 19% to 1,350 pence at 8:28 a.m. in London.
Wizz declared a net profit of 225.8 million euros ($ 258 million) for the financial year ending in March, missing its target of 250 million euros to 300 million euros. The company said that operating expenses excluding fuel increased almost 19% to 3.3 billion euros, a figure that Panmure Liberum analysts called “amazing” given the growth of Wizz's capacities.
The airline said 42 planes had been put to the ground at the end of March and that it expects to have around 34 ground aircraft at the end of the first half of the 2026 fiscal year.
Wizz is among the airlines that have been forced to temporarily die from the Airbus narrow body aircraft due to the repairs required on Pratt & Whitney GTF engines. The situation had an impact on the growth plans of carriers as well as their results while waiting for turbines to be abolished and inspected.
“The impact of GTF funds has an prolonged negative impact on unit costs,” said Gerald Khoo, Panmure analyst, in a note. The increase in non -food cost is “worse than previous and disappointing comments for an airline with a capacity growth of 20%”.
WIZZ A hoarding of spare parts and engines to compensate for the anchored units, said the company. The Chief Executive Officer, Jozsef Varadi, said Thursday 2027 “will be the big year of turn”. Until then, the engine problem will remain in the company, he said.
This story was initially presented on Fortune.com
