Wizz Air losses widen on higher costs
Low-cost carrier Wizz Air Holdings Plc Air posted a wider third-quarter operating loss driven by depreciation costs on older aircraft.
The budget airline said it was "steadily recovering" from aircraft groundings related to issues with RTX-owned Pratt & Whitney engine.
"We are ... targeting to have an average of 20-25 aircraft on the ground due to powdered metal issues," chief executive Jozsef Varadi said on Thursday.
Operating losses for the three months to December 31 came in at €124m compared to the €76m reported in 2024. Analysts had forecast a loss of €138m.
Varadi added that Wizz was expecting modest inflation vs last year "as we forecast increased navigation costs from higher Eurocontrol rates, maintenance costs due to inflationary pressures, partly reflecting the uncertainty around Pratt & Whitney's engine redeliveries from shop visits and higher depreciation costs related to the retirement schedule of the A320ceo family".
Reporting by Frank Prenesti for Sharecast.com
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