Wizz Air posts better-than-expected second-quarter results, but jet fuel costs weigh on the figures
The company recorded energy costs of 1.24 billion euros in the first half of the year. Its presence in Italia is growing with two new bases
Wizz Air is growing in terms of passenger numbers and capacity, but this strengthening of the business has not yet translated into a corresponding increase in profitability. In the quarter from July to September, turnover rose by 19.9 per cent to €2.29 billion. Operating profit rose by 8.8 per cent to €447.8 million, exceeding analysts’ expectations, whilst net profit reached €306.3 million, up 7.4 per cent year-on-year despite foreign exchange losses. Quarterly EBITDA rose by 13.8 per cent to 775 million, despite a 28.7 per cent increase in fuel costs. The company has not provided a full-year financial forecast due to uncertainties surrounding fuel prices.
The half-year results for the 2027 financial year, as at 30 September 2026, were stronger, with revenue of €3.8 billion, up 13.8 per cent compared with the same period last year. Despite this growth, however, net profit fell by 66.6 per cent, from €323.5 million to €108.1 million.
Between April and September, Wizz Air carried 46.1 million passengers, 26.2 per cent more than the 36.5 million carried in the first half of 2026. Seat capacity increased by 26.1 per cent, whilst Available Seat Kilometres (ASK) rose by 17.1 per cent. The load factor remained broadly stable at 92.5 per cent, compared with 92.4 per cent in the previous year.
Despite the growth in revenue, operating profit fell by 39.8 per cent to €264.5 million, compared with €439.2 million in the first half of the previous year. EBITDA stood at €922.4 million, down 6 per cent, whilst the EBITDA margin fell from 29.4 per cent to 24.3 per cent.
The main cost driver is fuel. Fuel costs rose by 33.7 per cent, reaching 1.24 billion euros. The company is strengthening its hedging strategy. As at 6 November, 82 per cent of the projected fuel requirements for the second half of the 2027 financial year were hedged, with an average maximum price of $860 per tonne. For the 2028 financial year, hedging coverage stands at 41 per cent, with an average cap of $1,009.
