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European budget carrier Wizz Air narrowed its annual profit forecast on Thursday, citing continuing macroeconomic uncertainty and difficult operating conditions.
European airlines have reported strong results this quarter but have warned of a murky outlook as jet fuel prices, supply chain issues and a lack of economic clarity weigh heavy on them.
Wizz Air, in particular, was also one of the main airlines hit by issues with RTX engines this year and had said it would face a capacity reduction as a result.
The budget carrier posted operating profit of 522.9 million euros ($559.8 million) for the six months to Sept. 30, compared with a loss of 63.8 million euros a year earlier.
"Our revenue and profit results reflect the higher volumes we now operate and the enormous amount of work and investment over the past three years," Chief Executive Jozsef Varadi said in a statement.
He added that the airline was on track to receive a delivery of 21 Airbus 321 neo planes by the end of the 2024 financial year and that it had secured compensation from RTX over the need to inspect engines on its planes.
Aerospace supplier RTX said in September that 600 to 700 geared turbofan engines (GTF) will have to be removed for quality checks that are likely to result in some of its aircraft being grounded. ($1 = 0.9341 euros) (Reporting by Joanna Plucinska in London and Yadarisa Shabong in Bengaluru Editing by Savio D'Souza and David Goodman )





















