Wizz Air just got downgraded: Should travellers be worried?

Budget airline Wizz Air, a favourite among European travellers for cheap flights to top destinations, has hit a patch of financial turbulence. Fitch Ratings has downgraded the carrier’s holding company from ‘BB+’ to ‘BB’, citing underwhelming financial performance and ongoing aircraft maintenance issues linked to faulty engines.

In a report published in London, the international credit rating agency explained that Wizz Air’s weaker-than-expected operational results for the financial year ending in March 2025 were a key factor behind the downgrade. The company generated EUR 5.3 billion in revenue, a 4% year-on-year increase, yet still fell short of Fitch’s projected EUR 5.5 billion target.

One of the most pressing issues weighing on the airline is the grounding of aircraft equipped with Pratt & Whitney (P&W) engines. These forced groundings have triggered persistently high maintenance and depreciation costs, which have rippled across almost every category of operating expenses. The financial compensation provided by P&W hasn’t been enough to offset the mounting costs, leading to increased pressure on the airline’s profitability.

The Fitch report also highlighted that Wizz Air’s cost per available seat kilometre (ASK)—a key industry metric—rose by 11% over the last year. Again, the P&W-related disruptions were primarily to blame.