Wizz Air aircraft groundings continue to hit operating profits 

Wizz Air continues to be weighed down by aircraft groundings as first quarter operating profits fell by 38%.

 

The figure for the three months to June 30 was down to €27.5 million against €44.6 million in the same period last year despite a 10.6% rise in passenger carryings to 17 million.

 

The fall came as the budget carrier said it was impacted by higher airport, handling and en-route charges as well as depreciation costs and engine-related groundings.

 

The eastern and central European low fares carrier had 41 aircraft grounded at the end of June  compared to 46 parked as at the end of the same month in  2024.

 

A new agreement has been signed with manufacturer Pratt & Whitney to select the PW1100G-JM geared turbofan (GTF) engine to power 177 firm Airbus A321neo aircraft on order alongside a long-term maintenance service agreement and ongoing support package “to mitigate the impact of groundings”.

 

The airline also announced 10 days ago the suspension of Middle East operations in Abu Dhabi from September 1

 

Chief executive Jozsef Varadi said: “We are simultaneously pursuing all avenues to lift the fleet that is grounded due to engine supply chain issues and retiring early as many A320 family aircraft as is feasible. 

 

“This will require further modification to our aircraft delivery schedules to reduce our growth rate to levels that support the demand this revised network will require.”

 

He added: “The well documented issues relating to Pratt & Whitney’s GTF engines led to 41 neo aircraft being grounded at the end of the quarter verses 46 aircraft this quarter last year. 

 

“However, notwithstanding Wizz Air carried 17 million passengers over the three months ending June, up 10.6% year-on-year and these results underline the sustained demand for our services across Europe and our ability to offer the best value to our customers.

 

“Our management team has demonstrated a high degree of adaptability in recent years when faced by severe challenges, and this year will likely continue to call on that strength as we refocus our business. 

 

“We see this encompassing some significant changes to our operations but with active execution and a strong balance sheet to support this, I am excited by the long-term prospects for the company.”

 

The airline is to steer its network towards its core central and eastern European markets, he added.