Hungarian budget airline WizzAir has reached a two-year compensation agreement with US aerospace giant Pratt & Whitney after a series of engine troubles forced it to ground around 40 of its aircraft for inspections.
The FTSE 250-listed carrier says the deal, which also covers operational support, will help mitigate costs directly tied to having nearly a fifth of its fleet offline.
A WizzAir spokesman commented: “The company continues to take proactive action to minimise the financial and operational impacts of the grounded aircraft, and will work with Pratt & Whitney to return these planes to service as soon as possible.”
The airline, which operates an all-Airbus fleet, expects to resume growth in 2026. Central to that plan is the purchase of 50 Airbus A321neo jets, set to boost WizzAir’s passenger capacity by about 20 per cent. However, continuing problems with RTX Pratt & Whitney engines have put an average of 46 planes out of commission over the last quarter.
These groundings trace back to September 2023, when engineers discovered microscopic cracks in turbine blades caused by contamination of a powdered metal. Pratt & Whitney announced that approximately 1,200 engines would need thorough inspection. In the first half of its financial year, WizzAir’s profits fell by over a fifth to €315 million (£263 million), reflecting the impact of these setbacks.
Despite operating nearly 800 routes across 53 countries, including the Middle East, further eastward expansion into Saudi Arabia and India has been blocked by local authorities. WizzAir was founded in Budapest 30 years ago and has since grown to a fleet of 224 Airbus aircraft. Industry observers often compare its business model to that of Ryanair in eastern Europe.
Pratt & Whitney previously finalised an undisclosed compensation deal in June with Indian airline IndiGo, which also flies the problem engines. Shares in WizzAir, down by a third in value over the past year, rose 17p (1.2 per cent) to £14.39 on the latest news.