REG - Wizz Air Holdings - Wizz expects P&W engine issues to limit capacity

Wizz Air HoldingsAnnouncement

11/09/2023 14:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230911:nRSK0545Ma&default-theme=true

RNS Number : 0545M  Wizz Air Holdings PLC  11 September 2023

 

 

WIZZ AIR EXPECTS PRATT & WHITNEY POWDER METAL ENGINE ISSUES TO IMPACT
CAPACITY DUE TO INCREASED ENGINE REMOVALS

 

 

Further to the information provided on 3rd August 2023, Wizz Air Holdings Plc
("Wizz Air" or "the Company") today provides an update on the impact of the
Pratt & Whitney GTF engine inspections following a market update by RTX
Corporation ("RTX") on 11 September 2023.

 

Wizz Air was informed by RTX that its Pratt & Whitney GTF engines will be
subject to inspection intervals, resulting in engines being removed for shop
visits during the remainder of 2023 and into 2024 that will likely cause some
of its aircraft being grounded in this period. Wizz Air is currently assessing
the implications to understand the extent of the impact on its fleet with
initial estimates indicating a potential capacity reduction of 10 percent for
F24 H2.

 

Wizz Air will continue to work with Pratt & Whitney to minimize the impact
to its fleet plan and costs to the business. The Company continues to take
proactive action to mitigate any financial and operational impact and will be
seeking financial compensation from Pratt & Whitney. The Company will
provide a more detailed update in due course.

 

 

 

ABOUT WIZZ AIR

Wizz Air, the fastest growing European ultra-low-cost airline, operates a
fleet of 185 Airbus A320 and A321 aircraft. A team of dedicated aviation
professionals delivers superior service and very low fares, making Wizz Air
the preferred choice of 51.1 million passengers in the Financial Year F23
ending 31 March 2023. Wizz Air is listed on the London Stock Exchange under
the ticker WIZZ. The company was recently named one of the world's top ten
safest airlines by airlineratings.com (http://airlineratings.com/) , the
world's only safety and product rating agency, and named Airline of the Year
by Air Transport Awards in 2019 and in 2023. Wizz Air has also been recognised
as the "Most Sustainable Low-Cost Airline" within the World Finance
Sustainability Awards in 2021-2023 and the "Global Environmental
Sustainability Airline Group of the Year" by the CAPA-Centre for Aviation
Awards for Excellence 2022.

 - Ends -

 For more information:

 Investors:  Zlatko Custovic, Wizz Air                     +36 1 777 9407

 Media:      Tamara Vallois, Wizz Air                      +36 1 777 9324

             James McFarlane / Eleni Menikou, MHP Group:   +44 (0) 20 3128 8100

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCXFLFFXKLLBBD