Wizz Air kürzt Flugplan wegen Energiepreisen, Aktie steigt

Budapest - The soaring fuel prices, triggered by the ongoing conflict in Iran, have forced budget airline Wizz Air to curtail its flight plan. The Hungarian carrier announced on Thursday that it will reduce its planned capacity for the second half of the business year by five percent. However, investors remained undeterred by this move, as the company simultaneously raised its short-term earnings forecast following a strong summer: The stock rose by more than three percent.

Wizz Air now anticipates a return to pre-pandemic levels of revenue between July and September, instead of a decline in the low single-digit percentage range. The Iran war has plunged the global aviation industry into the deepest crisis since the COVID-19 pandemic. Consequently, the Latvian airline airBaltic became the first European airline to file for bankruptcy this week.

Major US airlines have already scaled back their flight schedules to secure revenues. Meanwhile, Wizz Air is attempting to convince investors of its ultra-low-cost business model through new long-term goals. By the end of the business year 2030, the airline aims to achieve revenue of ten billion euros, an operating margin of ten percent, according to the company.

The fleet is expected to grow to 335 aircraft, and passenger numbers to 127 million. Currently, the fleet consists of 269 aircraft, and last year, 69.7 million passengers were transported.