Wizz Air reports first-quarter operating loss on fuel costs, weak fares
Wizz Air First-Quarter Financial Performance Overview
Operating Loss Driven by Fuel Costs and Weak Fares
Aug 6 (Reuters) - Budget airline Wizz Air swung to a first-quarter operating loss of €183.3 million on Thursday as soaring fuel costs and weak fares stemming from the Iran war weighed on earnings.
Second Quarter Outlook and Capacity Growth
For the second quarter, Wizz Air guided for available seat kilometres capacity growth of around 20% year-on-year and seats up by high-twenties percent, but continued to withhold full-year earnings guidance.
Comparison with Industry Peers
Ryanair's Profit Slump
Wizz Air's results echoed the strain flagged by rival Ryanair, whose profit slumped by a third last month, and lay bare a widening split in European aviation where full-service flag carriers are proving far more resilient to the war than budget players.
Industry Resilience: Flag Carriers vs. Budget Airlines
(Reporting by Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee)
