Wizz Air profit tumbles as Pratt & Whitney-related groundings weigh
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Wizz Air Holdings PLC reported a significant drop in profit for the first half of the year due to groundings related to Pratt & Whitney engine inspections. Adjusted pre-tax earnings fell by 5.9% to €826 million, and operating profit decreased by 33.2% to €349.2 million.
November 07, 2024 | 8:30 am
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Wizz Air's profits have been negatively impacted by groundings due to Pratt & Whitney engine inspections, leading to a 5.9% drop in adjusted pre-tax earnings and a 33.2% fall in operating profit.
The news directly affects Wizz Air's financial performance, with significant drops in both adjusted pre-tax earnings and operating profit due to engine-related groundings. This is likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100