Wizz Air’s profits fall, but the airline is still climbing
ANDRIEVSKII.CH | November 12, 2026
It was an ordinary morning at the airports. Newspapers lay scattered on the pavements, their headlines about bomb hoaxes on Wizz Air flights. The airline was appealing to European authorities, and passengers kept buying tickets without packing parachutes or paying for extra insurance. The world had changed and perhaps grown a little more cynical.
Gulls strolled along the runway. The wind had carried a few newspapers out there, and the gulls stepped right over the headlines about bombs on planes. Just below, in small print, a single line carried the news of Wizz Air’s results that morning.
The half-year in numbers
In the six months to 30 September, Wizz Air’s revenue rose 13.8% to €3.802 billion. Net profit fell 66.6%, from €323.5 million to €108.1 million, while diluted earnings per share dropped 66.9% to €0.85. The biggest blow came from rising jet fuel prices amid the war with Iran. Fuel costs rose 33.7% to €1.24 billion.
For its third financial quarter, Wizz Air expects to offer about 19% more seats year on year and to increase revenue per available seat kilometre by a low-single-digit percentage. For the full financial year, it expects unit costs excluding fuel to rise by around 5%.
Higher fuel costs are taking a toll
With IAG warning of a cut in capacity and Ryanair weighing a pay freeze, Wizz Air’s results suggest it is managing to expand its network in a costly season for the industry.
Reuters reported that spot jet fuel prices in north-west Europe had fallen 15% since the start of November. Any relief this winter is likely to be limited. Wizz Air has already hedged 82% of its fuel needs for the second half of its financial year, so a sustained fall in fuel prices would do more for margins than a few days of lower spot prices.
Bomb hoaxes cloud the picture
The Financial Times reported that bomb hoaxes affected more than 50 flights across Europe last week, including 14 Wizz Air flights. Several aircraft were diverted. Wizz Air chief executive József Váradi called on European authorities to coordinate their response to such incidents. A false alarm can still mean real delays and extra costs for an airline. For investors, that uncertainty makes it harder to judge how firmly the business is recovering.
Andrievskii Verdict
The Wizz Air results didn’t put me off. The airline is doing its job well and keeps trying to fly a little higher. In a tough summer for the industry, it expanded its flight schedule and earned more than it had a year earlier. Cancellations also fell over the half-year. If tensions in the Middle East ease and jet fuel keeps getting cheaper, Wizz Air has a good chance of rebuilding profits quickly. Váradi and his team have already shown they can hold their course into a headwind.
Some investors are already looking ahead to a recovery. UBS’s August price target of 1,400p (£14) was about 26% above the share price of £11.10 at the time.
Our gull is still free to choose where it flies. This morning it was picking its way across wet newspapers by the runway. Now it’s time to spread its wings. Below, well-fed gulls will go on circling the fishing boats, plucking discarded fish heads from the foam. Wizz will climb higher than it has ever flown. Up there, above the clouds, it will see the sun before anyone on shore.
Disclaimer: This publication is provided for informational purposes only and does not constitute personalised investment advice or a recommendation to buy or sell securities. Investments in financial instruments involve risks, including the potential loss of capital.
Aleksei Andrievskii | Advisory Board Member, Bendura Bank AG | Liechtenstein