Wizz Air has revealed its annual profits slumped as the budget airline grappled with a fifth of its planes being grounded over issues with the engines. Shares in the firm plunged by about a quarter after unveiling its annual financial results. The Hungarian company said it was flying more passengers than ever despite the “significant challenges” it faced. #Wizzair
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00:00Hello, I'm Greg Wright of the Yorkshire Post.
00:04Whizair has revealed its annual profit slumped as the budget airline grappled with a fifth of its planes being grounded.
00:13Shares in the firm plunged by about a quarter after it unveiled its annual results.
00:18The company said it was flying more passengers than ever, despite the significant challenges it faced.
00:24It reported an operating profit of €167.5 million for the year's end of March, which is about a 62% drop from the €437.9 million it generated in the previous year.