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Wizz Lowers Profit Outlook on Economic, Security Concerns
- Shares drop as €50 million shaved from top of profit forecast
- Managing through Pratt engine issues with lease extensions
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Wizz Air Holdings Plc lowered its profit outlook for fiscal 2024 as aircraft engine issues limit growth, and concerns grow about the impact of a slowing economy and rising geopolitical tensions.
The shares posted their biggest drop in a month, after Wizz trimmed the top end of its forecast by €50 million ($54 million). Net income this year will be in a range of €350-400 million, the company said in a statement Thursday, even as it reported record first-half profit.