"Wizz Air's operating profit fell sharply to €167.5 million, down 62% from the previous year, as a fifth of its fleet remains grounded."
"Despite significant challenges, Wizz Air continues to fly more passengers and aims to reduce its number of grounded aircraft this financial year."
Wizz Air reported a significant 62% drop in operating profit, totaling €167.5 million for the year ending in March, attributed mainly to a fifth of its fleet grounded due to engine problems. Despite these challenges, the airline is still managing to fly more passengers. CEO Jozsef Varadi emphasized a turning point as they expect to reduce the number of grounded planes. Analysts express skepticism about short-term recovery due to ongoing operational issues and geopolitical concerns impacting investor confidence.
Read at London Business News | Londonlovesbusiness.com
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