Wizz Air Holdings PLC decreased by 26 % in early trading after the reduced airline reported profits that were absent from estimates and refrained from providing guidance, noting poor vision.
The decrease represents a sharp decrease of a low -cost galaxy for more than five years. The shares decreased by 19 % in 1,350 bens as of 8:28 am in London.
Wizz reported a net income of 225.8 million euros (258 million dollars) for the year ending in March, and lost its goal of 250 million euros to 300 million euros. The company said that the operating expenses, with the exception of fuel, increased by 19 % to 3.3 billion euros, a number that analysts in Panmure LibeUm call “amazing” due to WIZZ’s growth.
The airline said that 42 aircraft were based at the end of March and expected to have about 34 aircraft on the ground by the end of the first half of the fiscal year 2026.
Wizz is one of the airlines that were temporarily forced into the ground of the narrow Airbus SE aircraft due to the required repairs on the pratt & Whitney GTF engines. This situation has affected the growth plans of transport companies in addition to their lower lines, where they are awaiting the removal and examination of the turbines.
“The effect of GTF has a long negative impact on unit costs,” Gerald Kho, a Panmure analyst, said in a note. The increase in the cost of non -fuel is “worse than previous comments and disappointing for a flight company with a growth capacity of 20 %.”
The company said that Wizz was storing spare parts and engines to compensate for the supporting units. On Thursday, CEO, Joosen Farady, said that the year 2027 “will be the big year of rotation.” He said that until then, the engine issue will remain with the company.
This story was originally shown on Fortune.com
The post Wizz stock plunges after profit misses estimates, costs rise first appeared on Investorempires.com.
