Wizz Air Half-Year Earnings Sink As Fuel Costs Surge Arabian Post
The London-listed carrier reported net profit of €108.1 million for the six months ended 30 September, down from €323.5 million a year earlier. Fuel expenditure climbed 33.7 per cent to €1.24 billion, while revenue increased 13.8 per cent to €3.80 billion.
Chief executive József Váradi identified fuel as the principal challenge for the second half of the financial year, although the company said hedging arrangements were cushioning the impact of elevated prices. Wizz Air has secured coverage for 82 per cent of its second-half fuel requirements, with a price cap of $860 per metric tonne.
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