Wizz Air Holdings PLC (AIM:WIZZ) has forecast roughly 40 aircraft groundings over the coming fiscal year due to issues with Pratt & Whitney engines.
FTSE 250-listed Wizz on Tuesday said an agreement had been reached for commercial support from P&W to cover direct costs of groundings until late 2026.
Several of its Airbus A320neo aircraft have faced being taken out of service as suspected powder metal issues in P&W’s PW1100G-JM geared turbofan engines are addressed.
Wizz in November reported a fleet size of 224 aircraft, with the company noting on Tuesday that groundings would continue throughout the 2026 fiscal year, but that it would also return to growth as 50 new Airbus deliveries were taken.
“The commercial support from Pratt & Whitney [...] includes both operational support and a compensation package covering the company's direct costs associated with the aircraft that have been grounded or are expected to be grounded,” it added.
Shares ticked up 0.5% on Tuesday.