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Low-cost carrier Wizz Air has cut its earnings forecast for the second time in six months, sending its shares down as much as 16 per cent in early trading, as it grapples with the grounding of its aircraft due to engine problems.
The London-listed carrier said it expected net income in its 2025 financial year to be between €250mn and €300mn, down from a previous forecast of €350mn-€450mn. Last August, it cut its guidance from a range of €500mn-€600mn.
József Váradi, chief executive, said the airline had “continued to navigate the complexity imposed on its operations from the ongoing grounding of some 20 per cent of its fleet, due to the well-documented . . . engine issue”.
Difficulties with its Pratt & Whitney engines have hampered Wizz Air for more than a year and forced it to ease back ambitious growth plans.
