Ambitious plans: Wizz Air aims to be the first airline to return to this war-torn country
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In a bold strategic move, Wizz Air is positioning itself to be the first airline to return to Ukraine once the war subsides, according to CEO József Váradi. Speaking in a Bloomberg TV interview, Váradi emphasised the company’s unique commitment to the region, highlighting that Wizz Air was the last airline to leave Ukraine when the conflict erupted.
Ambitious plans amid financial challenges
The airline’s ambitious plans come amid significant financial challenges. According to Bloomberg, Wizz Air has substantially reduced its profit forecast for the fiscal year ending 31 March, now expecting EUR 250-300 million in after-tax profit, down from an earlier projection of EUR 350-450 million. This marks the second profit warning in six months, primarily driven by ongoing technical reviews of Pratt & Whitney engines that are forcing the airline to ground portions of its fleet.
These engine inspections, which were initially expected to last 18 months, may now extend to 4-5 years, causing considerable operational disruptions, Világgazdaság writes. The market’s reaction was swift and negative, with Wizz Air’s shares dropping by up to 13% following these announcements.