Wizz Air Returns to Profit, Forecasts Stable Summer Airfares Amid Engine Issues
Wizz Air has announced a significant financial turnaround, reporting a net profit of €365.9 million for the year ending in March, following a loss in the previous year. The budget airline anticipates that airfares for the upcoming summer season will likely be flat or slightly lower compared to last year. This price stability is attributed to an increase in overall market capacity. However, the carrier continues to face operational challenges due to ongoing issues with Pratt & Whitney engines, which have grounded approximately 45 of its aircraft. To mitigate the impact, Wizz Air is extending leases on older planes and acquiring new ones.
Official Source: https://www.bbc.com/news/articles/c0q9x04k42qo?at_medium=RSS&at_campaign=rss
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