‘Slump’ as Wizz Air pressured to floor dozens of planes | Travel News | Travel | EUROtoday

Wizz Air has been hit onerous with its annual earnings tumbling because it wrestled with engine troubles that left a good portion of its fleet out of motion.

Despite these headwinds, the Hungarian provider boasted document passenger numbers and said it had overcome “significant challenges”.

Putting a determine to their woes, Wizz Air posted an working revenue of 167.5 million euros (£141 million) for the 12 months ending March, which is sharply down by 62% in comparison with 437.9 million euros (£368.7 million) within the earlier fiscal 12 months.

Yet, the group did handle a modest income improve of three.8%, ferrying a historic excessive of 63.4 million passengers.

The funds airline was hamstrung by having to floor, on common, 44 planes as a consequence of points with engines equipped by US agency Pratt & Whitney, impacting practically 20% of its fleet.

Towards the ultimate quarter of 2024, Wizz Air secured a two-year reduction deal from Pratt & Whitney after grounding Airbus A320neo plane, anticipated to assuage some monetary and operational ache, although not fully.

Chief government Jozsef Varadi mentioned: “Despite the unproductivity of a grounded fleet, we successfully delivered a second consecutive year of profitability.

“The variety of grounded plane will begin decreasing in each absolute and relative phrases and that is why we now have reached a change level.”

With 37 jets parked final month, forecasts point out round 34 plane will possible stay idle come September’s finish.