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Wizz Air Profits Plunge 62% Amid Engine Crisis

6/5/2025

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Summary

Story summary

Wizz Air's profits took a staggering 62% hit, dropping to €167.5 million as engine troubles grounded a fifth of its fleet. The fallout sent shares tumbling over 25%, erasing £480 million in value. CEO József Váradi announced plans to lease more aircraft, but warned that challenges with Pratt & Whitney engines could linger for up to three years.

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Story summary

Wizz Air's profits took a staggering 62% hit, dropping to €167.5 million as engine troubles grounded a fifth of its fleet. The fallout sent shares tumbling over 25%, erasing £480 million in value. CEO József Váradi announced plans to lease more aircraft, but warned that challenges with Pratt & Whitney engines could linger for up to three years.