Wizz Air Downgrades Profit Forecast by €50 Million Citing Middle East Conflict
Wizz Air has revised its full-year net profit guidance, anticipating a €50 million negative impact due to the ongoing conflict in the Middle East. The airline has suspended all flights to and from Israel and Jordan, leading to cancellations and the costly reallocation of aircraft capacity. Consequently, the company now forecasts a net profit in the range of €350-400 million, down from its previous guidance of €350-450 million. This financial adjustment comes despite a strong first-half performance for the fiscal year. The challenges from the conflict add to the operational pressures Wizz Air already faces from Pratt & Whitney geared turbofan (GTF) engine inspections.
Official Source: https://aviationweek.com/air-transport/airlines-lessors/wizz-air-expects-eu50m-profit-hit-middle-east-crisis
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