Wizz Air is gearing up for a comeback in 2026, as it unveils a two-year support and compensation agreement with engine manufacturer Pratt & Whitney following the grounding of planes. The budget airline, listed on the FTSE 250, anticipates that about 40 of its Airbus A320neo jets will remain out of action until the 2025-26 period due to necessary engine checks by the American aerospace giant.
Despite the setback, which saw operating profits tumble by a third to €349.2m in the last half-year report, Wizz Air has clinched a support and compensation agreement effective until the end of 2026. This deal includes operational aid and a financial package to cover direct costs from the grounding.
The Hungarian carrier, hit by mandatory groundings for engine inspections, is looking forward to growth in the 2025-26 fiscal year, thanks to measures to counterbalance the aircraft issues. It's also expecting a boost from the scheduled arrival of 50 new Airbus A321neo planes in 2025-26, set to expand its flight offerings by roughly 20%.
Wizz Air stated: "The company continues to take proactive action to mitigate the financial and operational impact of the grounded aircraft and will continue to work with Pratt & Whitney to ensure that aircraft are returned to operation as soon as possible.".
