Wizz Air issues profits warning due to Middle East crisis; China ‘tells refiners to halt diesel and gasoline exports’ – business live
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02.35 EST Wizz Air issues profits warning due to Middle East crisis The travel disruption, the higher oil price and the fall in the euro caused by the Iran war has prompted low-cost airline Wizz Air to issue a profits warning. Wizz Air warned investors last night that it believes the current crisis in the Middle East will wipe €50m off its profits this financial years. Wizz had previously predicted that earnings would fall within a profit of €25m to a loss of €25m, so today’s warning means it expects a loss for the year. The company told the City: In terms of the expected impact, approximately one third is a result of the cessation of certain scheduled services to the Middle East, with the remainder from the adverse movement in macroeconomic factors as a result of the Iran conflict. Our assessment of the impact of these macroeconomic factors is based on jet fuel and US$/€ rates as of today, and assumes that these rates will remain at current levels for rest of Fiscal Year 2026.
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