11th Sep 2023 16:58
(Alliance News) - Wizz Air Holdings PLC on Monday said it faces a possible 10% reduction in capacity in financial 2024, ending March 31, from the engine inspection issues at RTX Corp.
The Budapest-based budget airline said it had been informed by RTX that its Pratt & Whitney GTF engines will be subject to inspection intervals, resulting in engines being removed for shop visits during the remainder of 2023 and into 2024.
The firm said initial estimates indicate a potential capacity reduction of 10% in the second half of financial 2024.
Wizz Air said it would continue to work with Pratt & Whitney to minimize the impact to its fleet plan and costs to the business.
The firm said it "continues to take proactive action to mitigate any financial and operational impact and will be seeking financial compensation from Pratt & Whitney."
Shares in Wizz Air closed down 3.1% to 1,980.54 pence in London on Monday.
By Jeremy Cutler, Alliance News reporter
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