Wizz Air Holdings PLC (LSE: WIZZ), one of Europe's largest ultra-low-cost carriers, has reported a sharp decline in first-half profitability for the six months to 30 September 2026, with net profit falling 66.6 per cent year-on-year to €108.1 million. Total revenue rose 13.8 per cent to €3,801.8 million, driven by a 26.2 per cent increase in passengers carried to 46.1 million, but surging fuel costs and Middle East disruption weighed heavily on margins. The company cited improving trading momentum into the second half, with October unit revenue up around 5 per cent year-on-year.

Key Points

  • Wizz Air Holdings PLC (LSE: WIZZ) — leading ultra-low-cost European airline
  • H1 F27 net profit dropped 66.6% to €108.1m; H1 total revenue rose 13.8% to €3,801.8m
  • Q2 net profit up 7.4% to €306.3m; 82% of H2 F27 fuel requirements hedged at $860/MT cap
  • Investors will be watching Q3 RASK guidance of "up low single digits" and GTF engine grounding progress

Fuel Costs and Middle East Disruption Drive H1 F27 Margin Compression

Fuel expenses rose 33.7 per cent to €1,241.4 million in H1 F27, with the average fuel price increasing by $176 per metric tonne relative to the equivalent period of F26. Total CASK increased 4.3 per cent to €4.65 cents, while RASK declined 2.9 per cent to €4.84 cents, reflecting an 8.1 per cent RASK fall in Q1 linked to Middle East conflict disruption. EBIT fell 39.8 per cent to €264.5 million and the EBIT margin narrowed to 7.0 per cent from 13.1 per cent. Notably, ex-fuel CASK edged marginally lower to €3.07 cents from €3.08 cents, reflecting improved operational discipline on non-fuel cost lines including airport charges and flight disruption expenses.

Q2 Recovery and Second-Half Guidance Signal Improving Revenue Trajectory

The second quarter demonstrated a meaningful recovery, with EBITDA up 13.8 per cent to €775.0 million and operating profit up 8.8 per cent to €447.8 million despite fuel costs rising 28.7 per cent. Q2 RASK increased 0.5 per cent year-on-year to €5.55 cents, ahead of prior guidance of flat performance. For Q3, the company guides for ASKs up approximately 12 per cent, seats up approximately 19 per cent, load factor down low single digits, and RASK up low single digits. With approximately 70 per cent of November seats and approximately 40 per cent of December seats already sold, the announcement states unit revenue on hand is in line with the prior year at comparable booking points on around 18 per cent more capacity.

Fleet Expansion to 276 Aircraft Continues With 235-Aircraft Order Pipeline

Wizz Air ended the period with a fleet of 276 aircraft after taking delivery of 16 A321neo and three A321neo XLR aircraft during H1, while redelivering five older CEO-type aircraft. The fleet's average age stood at 4.6 years, which the company describes as the youngest of any major European airline, with neo aircraft representing 74 per cent of seat capacity. As of 30 September 2026, the firm order pipeline comprised 235 aircraft. GTF engine-related groundings improved to 22 aircraft from 35 a year earlier, with the company continuing to expect zero GTF-related groundings by the end of calendar year 2027.

Wizz Air Expands CEE Leadership and New European Bases Ahead of Winter Season

Wizz Air retained its position as market share leader in Central and Eastern Europe with 27.8 per cent of total market seats at end of September. The company announced the opening of Spanish operating bases in Valencia, Madrid, and Santiago de Compostela for the winter season, alongside new bases in Pristina, Kosovo and Brasov, Romania. In Italy, the based fleet grew to 42 aircraft ahead of winter. Total cash stood at €2,394.7 million at period end, representing a 12.6 per cent increase versus 31 March 2026, while net debt rose to €5,157.3 million. The company's leverage ratio stood at 4.1x net debt to EBITDA.