Wizz air returns to revenue after three years | EUROtoday

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Low-cost airline Wizz Air returns to revenue after three years of losses, a outcome supported by sturdy journey demand, elevated fleet utilization and the cost of compensation for the grounding of planes by engine maker Pratt & Whitney from which it expects additional funds “on similar terms” for the final quarter of the fiscal 12 months “and beyond”.

In fiscal 2024, income rose 30.2% to five.07 billion euros in comparison with 3.9 billion final 12 months of which 2.8 billion have been for ticket gross sales and a pair of.3 billion for voices ancillaries (baggage and meals on board) elevated by 21.3% within the 12 months. Net revenue stood at 365.9 million euros in comparison with a lack of 535.1 million euros in 2023.

For the summer season “demand for air travel remains solid, and a positive momentum in bookings for the summer”, commented CEO József Váradi. For the fiscal 12 months 2025 Wizz estimates a web revenue within the vary of 500-600 million euros.

Capacity stays in keeping with final 12 months as a result of grounding of plane for engine inspection. There are at present 47 Airbus 321neos underneath inspection, destined to rise to 50 throughout the first half of the 12 months.

Geopolitical tensions in Ukraine and the Middle East pressured Wizz Air to cut back capability to the locations of the affected airways by 6% with an impression of roughly 80 million euros on turnover.