AUS
NZ
UK
CA
USA
IND
_06_16_2026_04_54_27_535266.jpg)
Highlights:
- Profit Impact: First-half operating profit dropped by 33.2%, with a 5.9% decline in adjusted pre-tax earnings due to Pratt & Whitney engine groundings.
- Operational Challenges: Around 41 aircraft were grounded as of September, with ongoing groundings expected to affect profitability over the next 18 months.
- Strategic Focus: Wizz Air emphasizes cost control and efficiency measures, with expectations to return to growth by 2024 as new aircraft deliveries resume.
Wizz Air Holdings PLC (LSE:WIZZ) reported a decline in profits for the first half of the year, as engine inspections and groundings related to Pratt & Whitney geared turbofan (GTF) issues impacted its financial performance. The airline disclosed a 5.9% drop in adjusted pre-tax earnings, landing at €826 million for the six months ending in September, while operating profit saw a more significant decline of 33.2%, reaching €349.2 million.
The cost inefficiencies stemmed largely from the grounding of 41 Wizz aircraft due to suspected GTF engine issues, and the airline anticipates maintaining an average of 40 to 45 grounded planes over the next 18 months. Wizz noted that profitability was further hindered by leasing costs for one of its jets over the summer, as compensation negotiations with Pratt & Whitney for these expenses are ongoing.
The airline also experienced a marginal 0.5% increase in total revenue to €3.07 billion, supported by a slight increase in passenger numbers to 33.3 million, up from 33.0 million last year. However, its load factor saw a slight dip, down two basis points to 92.4%. Wizz Air's fleet size expanded from 189 to 224 aircraft, positioning it for growth, though the GTF-related disruptions remain a challenge.
József Váradi, Wizz Air’s chief executive, emphasized that cost control is a priority as the company manages the ongoing engine groundings and air traffic control challenges. “Cost control remained a key focus area during the first half, particularly with the management of the Pratt & Whitney related aircraft groundings and air traffic control disruptions,” he said.
Looking ahead, Váradi indicated that while GTF issues are expected to continue inflating costs in the near term, the airline’s fuel and operational efficiency initiatives will help offset some of these expenses. He added that Wizz Air’s strategy for handling the GTF complications is now clearer, projecting a return to growth as new aircraft deliveries from Airbus come online next year. This phased expansion aligns with Wizz’s goal to navigate the disruptions while gradually enhancing operational resilience through 2027, when the GTF issues are anticipated to reach a resolution.
