Wizz expects P&W engine issues to limit capacity

Wizz Air Holdings PLC

11 September 2023

 

WIZZ AIR EXPECTS PRATT & WHITNEY POWDER METAL ENGINE ISSUES TO IMPACT CAPACITY DUE TO INCREASED ENGINE REMOVALS

Further to the information provided on 3rd August 2023, Wizz Air Holdings Plc ("Wizz Air" or "the Company") today provides an update on the impact of the Pratt & Whitney GTF engine inspections following a market update by RTX Corporation ("RTX") on 11 September 2023.

Wizz Air was informed by RTX that its Pratt & Whitney GTF engines will be subject to inspection intervals, resulting in engines being removed for shop visits during the remainder of 2023 and into 2024 that will likely cause some of its aircraft being grounded in this period. Wizz Air is currently assessing the implications to understand the extent of the impact on its fleet with initial estimates indicating a potential capacity reduction of 10 percent for F24 H2.

Wizz Air will continue to work with Pratt & Whitney to minimize the impact to its fleet plan and costs to the business. The Company continues to take proactive action to mitigate any financial and operational impact and will be seeking financial compensation from Pratt & Whitney. The Company will provide a more detailed update in due course.

ABOUT WIZZ AIR

Wizz Air, the fastest growing European ultra-low-cost airline, operates a fleet of 185 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 51.1 million passengers in the Financial Year F23 ending 31 March 2023. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, and named Airline of the Year by Air Transport Awards in 2019 and in 2023. Wizz Air has also been recognised as the "Most Sustainable Low-Cost Airline" within the World Finance Sustainability Awards in 2021-2023 and the "Global Environmental Sustainability Airline Group of the Year" by the CAPA-Centre for Aviation Awards for Excellence 2022.

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For more information:
Investors:	Zlatko Custovic, Wizz Air	[phone]
Media:	Tamara Vallois, Wizz Air James McFarlane / Eleni Menikou, MHP Group:	[phone] [phone]

 

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