12th Nov 2026 12:10
(Alliance News) - Wizz Air Holdings PLC on Thursday announced a decline in profit despite solid revenue growth, amid a sharp increase in fuel costs, which have risen sharply since the start of the war between the US and Iran in late February.
The Budapest-based airline reported a 70% dive in pretax profit to EUR134.6 million in the six months to September 30 from EUR450.6 million a year prior.
Net profit fell by 67% to EUR108.1 million from EUR323.5 million, as higher fuel costs and disruption of travel to and from the Middle East weighed on profitability.
Fuel costs increased 34% to EUR1.24 billion from EUR928.3 million, while staff costs came in 9.2% higher at EUR357.3 million from EUR327.3 million.
Maintenance, materials & repairs costs increased 29% to EUR263.7 million from EUR205.2 million. Charges regarding airport, handling and en-route were 16% higher, at EUR947.8 million compared to EUR816.3 million.
Revenue rose 14% to EUR3.80 billion in the half-year from EUR3.34 billion a year before, supported by a 26% increase in passenger numbers to 46.1 million from 36.5 million.
Operating profit fell 40% to EUR264.5 million from EUR439.2 million a year before. Operating profit in the second quarter alone was EUR447.8 million, up 8.8%, but the first quarter had an operating loss of EUR183.3 million, compared to a profit of EUR27.5 million a year before.
Net debt as at September 30 was EUR5.16 billion, up 4.4% from EUR4.94 billion a year before.
Wizz Air said trading momentum has continued into the second half, with unit revenue rising around 5.0% year-on-year in October.
It expects third-quarter seat capacity to grow around 19%, with revenue per available seat kilometre increasing by a low-single-digit percentage.
Wizz Air forecast mid-single-digit growth in non-fuel unit costs for the current financial 2027 running until the end of March. It said 22 aircraft remain grounded due to engine inspections, down from 35 a year earlier.
Chief Executive Officer Jozsef Varadi said: "We remain focused on restoring margins through fleet productivity, network maturity and disciplined cost execution, while positioning Wizz Air for sustainable long-term growth and shareholder value creation."
Wizz Air shares were down 0.6% to 1,140.00 pence each midday Thursday in London.
By Tom Budszus, Alliance News slot editor
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