Wizz Air Cuts Earnings by €50 Million, Drops Outlook as Iran Conflict Nearly Erases Profit
Updated
Updated · Bloomberg · Jun 11
Wizz Air Cuts Earnings by €50 Million, Drops Outlook as Iran Conflict Nearly Erases Profit
2 articles · Updated · Bloomberg · Jun 11
Summary
€50 million in conflict-related damage left Wizz Air with just €2.2 million in net income for the year through March, down from €225.8 million a year earlier.
The airline withheld guidance for the current year, citing poor visibility across trading seasons, the ongoing Iran conflict and the closure of the Strait of Hormuz.
Wizz Air said it still plans to use market dislocations to pursue growth, even as the Middle East disruption clouds demand and operations.