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Wizz Air’s annual profit down over 61%, CEO blames grounded planes (Reuters) -Budget carrier Wizz Air on Thursday reported an annual operating profit that fell short of analysts’ expectations, as capacity constraints due to grounded planes and stubbornly high costs continued to weigh on performance. European airlines have warned of longstanding delivery delays and uncertainty around maintaining post-COVID demand amid the economic turmoil tied to U.S. President Donald Trump’s tariff threats. However, the sector has largely benefited from lower fuel prices. Wizz Air in particular has been affected by repair problems with RTX-owned Pratt and Whitney engines, limiting its ability to increase capacity. It has issued two profit warnings in the last year. Chief Executive Jozsef Varadi emphasized the carrier’s resilience, blaming challenges on grounded planes. "We have the benefit of more than a year of experience operating under these unique circumstances – conditions airlines would never experience when demand exceeds supply," he said in a statement. Wizz Air reported an operating profit of 167.5 million euros ($191.05 million) for the financial year, down 61.7% from a year ago and missing the 246 million euros projected by analysts polled by LSEG. Wizz Air uses a financial year running from April 1 to March 31. The company said on Thursday that it would not provide guidance for 2026 at this stage of the year, citing limited visibility across its trading seasons. In January, Varadi said that he expects the airline to be impacted by the engine repair challenges for another two to three years. Wizz Air shares have dropped more than 30% in the last year, continuing the carrier’s streak as the worst share performer among European airlines. ($1 = 0.8767 euros)

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Qatar Airways reported a revenue increase to $23.4 billion and profits of $1.6 billion for the fiscal year, attributed to team dedication. The airline's role in connecting East and West was enhanced by the 2022 FIFA World Cup.

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