Wizz Air has updated investors on the potential impact the airline will face from the war in Iran, with the low-cost carrier estimating that its full-year net result will be hit by around €50 million ($57.9 million).
In an update on March 4, 2026, Wizz Air said that, as a result of the current crisis in the Middle East, the airline’s net result will be €50 million ($57.9 million) lower. One third of that impact, or around €16.6 million ($19.2 million), is related to the “cessation of certain scheduled services to the Middle East, with the remainder from the adverse movement in macroeconomic factors as a result of the Iran conflict.”
“Our assessment of the impact of these macroeconomic factors is based on jet fuel and US$/€ rates as of today, and assumes that these rates will remain at current levels for rest of Fiscal Year 2026.”
Cirium’s Diio Mi shows that in March, Wizz Air had planned 192 weekly flights from Europe to the Middle East. Departures to the Middle East represent 6.3% of Wizz Air’s weekly capacity, measured in available seat kilometers (ASKs), during the month.
The airline warned that as a result of the negative financial impact, its full-year net result will fall below the -€25 million ($28.9 million) to €25 million guidance range it issued when it announced its Q3 FY26 results on January 29.
At the time, Wizz Air assumed that its full-year ASKs would be up 10% year-on-year (YoY) with flat load factors and unit revenue. Total unit costs would be flat to up low-single digits YoY, while cost per ASK excluding fuel (CASK-ex) was estimated to rise by mid-single digits YoY.
However, the low-cost carrier predicted that fuel unit costs would be down mid-to-high single digits YoY. The war in Iran, which now encompasses the wider Gulf region, has resulted in a spike in oil prices, and, according to Bloomberg, in Europe, jet fuel prices climbed to higher levels compared to when Russia invaded Ukraine, starting a conflict that has now lasted more than four years.
“As of 22 January 2026, using jet fuel zero-cost collars, Wizz Air has accumulated hedge coverage of 83 per cent of its jet fuel needs for F26 at a price of 681/749 $/mT.”
