Wizz Air Narrows Profit Forecast Amid Ongoing Pratt & Whitney Engine Issues
Wizz Air has adjusted its annual profit forecast, now expecting to earn between €350m and €400m, narrowing the previous range. The revision is primarily due to the grounding of approximately 40 aircraft for mandatory inspections of their Pratt & Whitney geared turbofan engines. Despite these operational challenges, the airline saw passenger numbers increase by 12% in the final quarter of 2023. Wizz Air confirmed it is receiving compensation from the engine manufacturer for the grounded planes. To mitigate the impact, the carrier is extending leases on older aircraft and acquiring new ones.
Official Source: https://www.bbc.com/news/articles/ckgr76r7691o?at_medium=RSS&at_campaign=rss
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