Wizz Air cuts H2 capacity by 5%, unveils medium-term growth targets

Wizz Air announced on Thursday that it has reduced its initially planned second-half capacity by 5%, attributing the decision to geopolitical tensions and volatile fuel prices. At its Capital Markets Day in London, the budget carrier unveiled medium-term growth targets aimed at regaining sustainable profitability. The airline revised its second-quarter revenue per available seat kilometer (RASK) guidance to flat year-over-year, an improvement from its earlier forecast of a low-single-digit decline.

This positive shift was driven by stronger-than-expected summer revenue. However, available seat kilometer and first-half ex-fuel cost guidance remained unchanged. Wizz Air also stated that current trading conditions support a liquidity position exceeding €2.2 billion, with no guidance provided for the current fiscal year.

Looking further ahead, the carrier set ambitious targets for fiscal year 2030. Wizz Air aims to generate €10 billion in revenue, maintain an ex-fuel cost per available seat kilometer of 3.00 euro cents, achieve an EBIT margin of 10%, and have an investment-grade balance sheet. CEO Jozsef Varadi emphasized the airline's commitment to an all-neo fleet of 335 aircraft and carrying 127 million passengers.

The company's strategy focuses on concentrating growth in its core Central and Eastern European markets, while gradually expanding to select new markets. Varadi highlighted the airline's enduring strength in serving customers through an uncompromising low-cost model.