Wizz Air reported a significant 62% drop in operating profit, totaling €167.5 million for the year ending in March, attributed mainly to a fifth of its fleet grounded due to engine problems. Despite these challenges, the airline is still managing to fly more passengers. CEO Jozsef Varadi emphasized a turning point as they expect to reduce the number of grounded planes. Analysts express skepticism about short-term recovery due to ongoing operational issues and geopolitical concerns impacting investor confidence.
Wizz Air's operating profit fell sharply to €167.5 million, down 62% from the previous year, as a fifth of its fleet remains grounded.
Despite significant challenges, Wizz Air continues to fly more passengers and aims to reduce its number of grounded aircraft this financial year.
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