Wizz Air closes deal with engine manufacturer due to stranded aircraft
Wizz Air has said it will return to growth in 2026 after signing a support and compensation deal with US engine supplier Pratt & Whitney.
The London-listed airline has suffered from groundings of planes due to engine problems, sending its shares down 35 percent this year.
Wizz Air expects 40 of its Airbus A320neo aircraft to remain grounded until 2025-2026.
Pratt & Whitney will conduct the required checks and has agreed to reimburse Wizz Air and provide operational support.
Wizz Air announced last month that first-half operating profit fell by a third to £289.7 million.
But the country expects to be able to grow again in 2025-2026 thanks to the measures to compensate for the aircraft problems.
Hammered: The London-listed airline has seen its shares fall 35% this year
It will take delivery of 50 new A321neo aircraft in the period 2025-2026, increasing the number of flights by a fifth.
And the goal of expanding passenger capacity by 20 percent per year and having 500 aircraft by 2030 remains unchanged.
Wizz Air said: ‘We continue to take action to mitigate the impact of the grounded aircraft and continue to work with Pratt & Whitney to return them to operations as quickly as possible.’