Wizz Air inks support deal with Pratt & Whitney over aircraft groundings
Wizz Air Holdings
1,420.00p
11:29 03/01/25
Wizz Air has entered a commercial support agreement with Pratt & Whitney, it announced on Tuesday, to address the continued grounding of about 40 Airbus A320neo family aircraft due to issues with the PW1100G-JM geared turbofan engines.
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The FTSE 250 low-cost carrier said the grounding, resulting from necessary inspections, was expected to persist through the 2026 financial year.
Under the agreement, engine manufacturer Pratt & Whitney would provide operational support and a compensation package covering direct costs related to the grounded aircraft.
The support, which would extend until the end of 2026, aligned with existing levels of assistance the company had been receiving.
Despite the challenges, Wizz Air said it planned to resume growth in the 2026 financial period, with the delivery of 50 new Airbus A321neo aircraft.
The additions would increase the A321neo’s share of Wizz Air's fleet to 77% as part of the company’s ongoing transition away from the A320ceo family.
It said the expanded fleet would boost seat capacity by about 20%, while enhancing fuel efficiency and strengthening Wizz Air’s sustainability credentials.
At 1215 GMT, shares in Wizz Air Holdings were up 1.9% at 1,449p.
Reporting by Josh White for Sharecast.com.