Wizz Air Shares Gain as Record Passenger Numbers Offset Substantial Profit Drop

Shares in Wizz Air (LSE: WIZZ) surged more than 3% on Thursday after the budget carrier reported its full-year results for the twelve months to 31 March 2026 — a set of numbers that highlighted both the airline’s underlying operational strength and the significant headwinds it faced throughout the year.

Record Passengers, Rising Revenue

The Budapest-headquartered airline carried a record 69.7 million passengers in FY26, up 10% year-on-year, as its fleet expanded by 13.4% to 262 aircraft. Total revenue rose 8% to €5.69 billion, while EBITDA jumped 16.2% to €1.32 billion, pushing the EBITDA margin to 23.2%.

Net Profit Almost Wiped Out

However, net profit was virtually eliminated, collapsing 99.4% to just €1.3 million from €213.9 million in FY25. The airline attributed the decline to higher maintenance and depreciation costs, disruption from the forced cancellation of Middle East routes during the 2025 peak summer season, and the Iran conflict in February 2026 — headwinds estimated to have cost around €50 million, though largely mitigated by fuel hedges. A prior-year deferred tax credit worth €194 million that did not recur in FY26 also significantly distorted the year-on-year comparison.

Improving Operational Picture

On the positive side, the number of grounded aircraft due to GTF engine inspections fell from 42 to 30 by year-end and is now down to 24. Total cash strengthened by 22.5% to €2.1 billion, while net debt edged down slightly to €4.9 billion.

Outlook

Looking ahead, Wizz Air guided for seat capacity growth of up to 25% in Q1 FY27 and high-twenties percent in Q2, though it stopped short of issuing full-year earnings guidance, citing geopolitical uncertainty in the Middle East.

CEO József Váradi said the company remains “well positioned to deliver sustainable growth and create value over the long term.”