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Wizz Air forecasts revenue drop amid fuel hike
Wizz Air, the low-cost airline, announced that it anticipates a decline in revenue per seat during the second quarter, due to rising fuel costs resulting from the Iran war. Despite this, the company will continue with its capacity expansion plans, targeting an increase of up to several dozen percent in seats. The company recorded an operating loss of €183.3 million in the first quarter and was unable to pass the rise in fuel prices onto customers, leading to a decrease in its revenues. Analysts also pointed out that increasing capacity might put pressure on profitability, while traditional airlines have reduced or stabilized their capacities to cope with costs. The company has laid out plans to manage its expansion cautiously over the next nine months and has hedged about 76% of its annual fuel needs.
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