GENEVA - Wizz Air Holdings PLC (LSE:LON:WIZZ), a prominent European airline, has secured a commercial support agreement with aerospace manufacturer Pratt & Whitney, ensuring operational support and financial compensation through December 31, 2026. This arrangement comes as a response to ongoing issues with powder metal in Pratt & Whitney's PW1100G-JM engines, which have led to the grounding of approximately 40 Airbus A320NEO family aircraft.
The support agreement includes a compensation package that covers the direct costs associated with the grounded aircraft, maintaining the level of support Wizz Air currently receives. The airline is actively working to mitigate the financial and operational impact of the situation and aims to resume growth with the introduction of 50 new Airbus A321NEO aircraft and a projected 20% increase in seat capacity during the fiscal year 2026. These new deliveries will increase the A321NEO's share of the Wizz Air fleet to 77%, aligning with the company's commitment to fuel efficiency and sustainability.
Wizz Air, which serves over 62 million passengers, is recognized for its sustainability efforts, having received multiple awards, including the "Most Sustainable Low-Cost Airline" and the "Global Environmental Sustainability Airline Group of the Year." The airline's fleet consists of more than 220 Airbus A320 and A321 aircraft, and it has been listed on the London Stock Exchange (LON:LSEG).
The airline continues to prioritize the swift return to service of the affected aircraft in collaboration with Pratt & Whitney. This information is based on a press release statement from Wizz Air Holdings PLC.
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