Wizz Air sees Q1 operating loss on fuel costs, weak fares
The carrier said fuel expenses jumped 39% and revenue per available seat kilometre fell 8.1% as weaker fares offset passenger growth.
- Wizz Air reported a €198.2m net loss for the quarter, a sharp reversal from the €38.4m profit recorded the previous year, as "extreme volatility" from the war in Iran pushed the budget carrier to a deficit.
- Jet fuel expenses jumped 39% compared with last year to €610.5 million, reflecting 87% higher market prices as Brent crude oil peaked above 120 dollars a barrel in late April.
- Total revenue increased 5.5% to 1.5 billion euros, buoyed by a 25.1% rise in passenger numbers to 21.2 million, though revenue per available seat kilometer fell 8.1% as softening fares squeezed margins.
- Chief Executive Officer Jozsef Varadi announced plans to strengthen the core network by reallocating flying from longer-haul Middle Eastern operations into shorter European sectors to improve density and deliver incremental growth.
- While 27 aircraft remain grounded due to engine difficulties, Freetrade analyst Alex Pugh noted the problem is "still hurting Wizz" despite progress, with the fleet expected to be fully operational by the close of the 2027 calendar year.
16 Articles
16 Articles
Wizz Air warns on revenue but sticks to capacity growth plan
Wizz Air profit wiped out by rising fuel prices
Soaring jet fuel prices caused by the conflict in the Middle East led to a sharp drop in Wizz Air’s profit. The increased fuel costs and “extreme volatility” from the war in Iran caused the budget airline to swing to a €198.2m net loss, a significant shift from its €38.4m gains the prior year. The FTSE 250 group saw total revenue inch up 5.5 per cent to €1,507.4m, driven by a 25.1 per cent increase in passengers. This took passenger numbers to 2…
Wizz Air expects second-quarter sales measure to fall as fuel costs soar
Wizz Air said on Thursday that a key measure of airline sales at the budget carrier would fall in its second quarter, as soaring fuel costs and weak fares driven by the Iran war weighed on one of Europe's more vulnerable airlines.Shares in the carrier fell more than 5% in early trade.The carrier also swung to a first-quarter operating loss of €183.3 million ($211.7 million), highlighting the pressure facing European budget airlines as they a…
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