Wizz Air revealed 20% of its fleet is grounded over long running engine problems.
The airline group’s share price plunged after full year profit dropped by 62% to £141 million.
More than 40 aircraft are grounded.
Despite ongoing issues in Israel and Ukraine affecting operations, Wizz passenger traffic was a record 63.4 million during the fiscal year.
“Wizz Air is a more resilient business today. Despite the unproductivity of a grounded fleet, we successfully delivered a second year of profitability,” said CEO Jozsef Varadi.
“We have the benefit of more than a year of experience operating under unique circumstances.”
Its Airbus planes have been impacted by problems at engine maker Pratt & Whitney.
It is a long running problem that could persist until at least 2027.
Wizz Air inked a compensation package with Pratt & Whitney last year but this doesn’t shield it from all the related costs and revenue loss of grounding so many planes.
