Wizz Air has confirmed it has reduced its capacity by 5% despite ‘stronger than expected’ summer revenue.
The airline blamed fuel price swings and geopolitical uncertainty for the cut, which covers the July-to-December period.
However, Wizz Air revealed strong summer trading is helping keep its cash reserves above €2.2 billion.
Its medium term targets are revenue of €10 billion and an Earnings Before Interest and Taxes (EBIT) margin of 10%.
Wizz Air CEO József Váradi said: “Wizz Air’s strength has always been its ability to serve its customers through an uncompromising low-cost model.
“Our next chapter is about turning that structural advantage into consistently stronger returns by concentrating growth in core and growth markets, restoring fleet productivity, maturing our network and executing with discipline.
“By F30 [end of 2030], we intend to operate an all-neo fleet of 335 aircraft, carry 127 million passengers and deliver sustainable, industry-leading margins.”
