Wizz Air said while the loss of capacity due to Pratt & Whitney's engine problems is a notional negative, being short of capacity in the seasonally weaker and lossmaking winter period is better than being short in the summer peak.
There could be mitigation from the compensation that Wizz Air will presumably seek from the engine manufacturer.
“Our main concern is the risk that the required engine checks are not completed before the start of Summer 2024," said the broker.
Sell with a 2,000p share price target is Liberum’s rating.