Hungarian budget airline Wizz Air recorded a significant decline in profit for the first half of the 2026 financial year. The carrier's net profit decreased by 67% amid a sharp rise in aviation fuel prices.
Bloomberg reports this, citing the airline's financial statements.
Wizz Air profit fell to EUR 108.1 million
The airline recorded a net profit of EUR 108.1 million for the first half of the financial year, compared with EUR 323.5 million last year. Fuel costs rose by 15% compared with 2025.
In addition, Wizz Air is reducing capacity for the winter season.
"We have reduced capacity by approximately 6% compared to what we planned for the winter. This is fully consistent with the situation of elevated fuel prices and is intended to protect the company's financial performance," says the company's CEO Jozsef Varadi.
After reports of a profit decline at the start of trading in London, the company's shares fell 4.4%, increasing their decline since the beginning of the year to 11%.
Air ticket prices may rise
The situation with fuel prices will determine how much ticket prices will increase, but an increase is definitely unavoidable, Varadi notes.
According to him, Wizz secured hedging for 82% of its fuel needs through the end of March and 51% for the summer period.
“Until fuel prices fall or unit costs stabilize, stocks are likely to remain volatile rather than show any significant recovery,” Adam Vettese, a market analyst at Etoro, told Bloomberg.
The rise in the cost of aviation fuel has also affected other airlines.
In particular, Ryanair Holdings Plc, Europe's largest low-cost carrier, announced last week efficiency measures designed to offset a 2 billion euro increase in fuel costs next year.