Wizz Air profits dive in face of ‘significant headwinds’

Wizz Air net profits plunged by 99% in the year to March despite record passenger carryings.

  

The figure fell to €1.3 million from €213.9 million in the previous 12 months.

 

This came amid “significant one-off headwinds” including the forced cancellation of Tel Aviv and other Middle East routes during the 2025 peak summer period as well as the cancellation of Middle East and Cyprus routes following the outbreak of the Iran war. A base in Vienna was also wound down.

 

“Whilst the Iran conflict in March 2026 had the risk of negatively impacting earnings by an estimated €50 million, this was largely mitigated by fuel hedges put in place prior to the conflict,” the airline said.

 

“Having exited the Abu Dhabi base in September of 2025 our exposure in the region was mostly focused on Israel and Tel Aviv.

 

“Most of this capacity was immediately redeployed to our core CEE [Central and Eastern Europe] markets, improving the existing summer season products to destinations in Spain, Italy, Croatia, Albania and others.

 

“We continue to monitor closely the situation on the ground in the Middle East and in Ukraine. On 28 of May we resumed flights to Tel Aviv from most of our CEE bases.”

 

The airline’s annual results statement added: “We continue to monitor the geopolitical situation carefully, to be able to restore our network when the security situation permits.

 

“We have plans in place to resume operations in Ukraine within weeks of any ceasefire and opening of the airspace.

 

“We also remain committed to Israel, and are keen to develop the market further to meet the growing demand for Wizz Air’s routes.”

 

The airline withheld formal guidance for the current financial year, “given the lack of visibility across ... trading seasons, uncertainty related to the ongoing conflict in Iran and the closure of the Strait of Hormuz”.

 

Wizz Air also had 30 aircraft grounded at the end of March due to Pratt & Whitney GTF engine-related inspections against 42 a year earlier.

 

Groundings expected at the end of the current financial year are in the range of 15-20 aircraft with this figure reducing to zero by the end of the 2027 calendar year, according to the eastern and central European budget carrier.

 

Wizz Air carried a record 69.7 million passengers against 63.4 million in the previous 12 months, delivering revenue growth of 8% to €5.7 billion with a load factor of 90.7%, down from 91.2%.

 

The operating profit fell by 16.6% to €139.7 million, “mainly due to previously guided higher maintenance and depreciation cost as older fleet of aircraft are exiting the fleet”.

 

Chief executive Jozsef Varadi said it had been a year of “relentless focus on our strategy and aim to be the reliable travel partner of choice across Central and Eastern Europe, and key markets across the whole European continent”.

 

He added: “We have continued to grow and serve an increasing number of customers.

 

“Equally, the defining feature of the year was the set of strategic decisions we made to position the business for long-term resilience and competitiveness.

 

“This has proven to be the right direction - working well in a balanced environment as well as at times of volatility, which the industry experienced towards the end of the financial year due to the Middle East crisis.

 

“The actions taken during F’26 have further strengthened our resilience and the foundations of our business. With a clear strategy, a highly efficient operating model, a young fleet and financial resilience we are well positioned to deliver sustainable growth and create value over the long term.

 

“As we move into the next financial year, our priorities are clear. We will continue to focus on our core markets, restore full fleet utilisation as engine availability improves, maintain discipline in capacity growth and cost control, and further enhance the reliability and quality of our operations.

 

“In F’27, we will continue to invest in our fleet, our people and our commercial capabilities to support the long-term growth of Wizz Air.”