Wizz Air Holdings PLC (AIM:WIZZ) told investors it carried 63.4 million passengers in the year ended 31 March, marking 2.2% growth year-on-year increase despite capacity falling slightly.
Revenue was up 3.8% to €5.27 billion, whilst operating profit fell sharply to €167.5 million from €437.9 million in the prior year, amid aircraft groundings linked to GTF engine issues.
Net profit was reported at €213.9 million, plunging 41.5% compared to last year.
CEO József Váradi, meanwhile, talked up the Eastern Europe-focused budget airline's "resilience and transformation" during the year.
"In an environment where rare challenges have become recurrent, Wizz Air has evolved structurally, embedding increased flexibility into our standard operating model," Váradi said.
"While often dismissed as 'easier said than done,' the past year's events tested both our company and management. We emerged stronger, wiser, and better prepared."
In London, nevertheless, Wizz Air shares fell 24% in Thursday's early deals, losing 409p to trade at 1,267.6p.
Further volatility "looms large", according to eToro market analyst Adam Vettese, who in a note commented: "Geopolitical risks, and potential recession pressures could weigh on near-term performance. The lack of dividends and a near 40% profit drop seems to have tipped the balance for many this morning."