Wizz Air turned around a HY1 loss into a solid profit, reporting a net profit for March-September of €400.7 million. Its Q2 profit was up five times on that of the same period. In the coming months, the Geared Turbofan issues will result in 45 aircraft on ground, but Wizz is taking mitigating actions to reduce the impact.
The €400.7 million net profit for HY1 for FY24 compares to €-389.7 million last year. Revenues improved to €3.052 billion, up from €2.194 billion. Of this, €1.762 billion came from passenger revenues (2022: €1.182 billion) and €1.290 billion from ancillary revenues (€1.012 billion). The airline carried 33 million passengers, up 25 percent year on year and 49 percent more than in its pre-pandemic year FY20. Capacity was up 27 percent year on year. Revenues per available seat kilometer were up 0.6 percent to €4.91 cents.
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016.
Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.
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