Wizz Air

Wizz Air in a transitional year: three takeaways from its Q3 F26 results

Wizz Air struggled to contain its costs during Q3 FY26.

Photo: Wizz Air

With Wizz Air continuing its shift toward fortifying its current bases and expanding across Central and Eastern Europe (CEE), the low-cost carrier has published its Q3 FY26 financial results for the period ending on December 31, 2025.

Unlike Ryanair, which ended the same quarter with a net profit, Wizz Air was loss-making, with the airline pinning its growing operating losses on depreciation related to its older Airbus A320ceo aircraft family leaving its fleet, including the associated pre-redelivery maintenance events.

Cost inflation weighing down profitability

Wizz Air ended the quarter with an operating loss of €123.9 million ($148 million), an increase of 63% year-on-year (YoY), while its net loss actually improved from €241.1 million ($288 million) to €139.3 million ($166.4 million), driven by a €150.7 million ($180.2 million) improvement in foreign exchange losses compared to the same period last year.

In Q3 FY26, despite 10% growth of total revenues to €1.2 billion ($1.4 billion), cost inflation was higher – 13% YoY – and Wizz Air spent €1.4 billion ($1.6 billion) to operate its flights.

Cost per ASK, excluding fuel (CASK-ex), was 2.1% higher YoY, while fuel-only CASK climbed 2.7% YoY, with the airline citing cost pressures from higher fuel prices, higher emissions-related spend, and higher sustainable aviation fuel (SAF) uptake.

The airline’s statement explained that during the quarter, the rise of operating costs was mainly driven by “higher depreciation, fuel, airport, and en-route charges on a unit cost basis.”

Capacity grows, yet utilization is down

During the quarter, Wizz Air’s average utilization, whether measured by block hours per aircraft per day or by block hours per operating aircraft per day, was down 1.6% and 6.3% YoY.

According to József Váradi, the Chief Executive Officer (CEO) of Wizz Air, in Q3 FY26, the carrier’s focus on the fortification of its key bases and expansion across CEE helps it “to better manage RASK [Revenue per available seat kilometer – ed. note] while allowing [it] to concentrate on the ex-fuel cost lines that are most heavily impacted by the Pratt & Whitney GTF engine-related disruptions affecting the company for the past two years.”

The low-cost carrier ended Q3 FY26 with RASK that was 0.8% lower YoY.

FY26 RASK guidance upgraded

Looking forward, Wizz Air issued guidance for FY26 (ending March 2026) of net income between a profit of €25 million ($29.8 million) and a loss of €25 million.

Váradi reaffirmed that full-year ASKs will grow by around 10%, as previously guided after Wizz Air’s H1 results, while guidance for RASK performance improved from “low single digits down” to “flat.”

“Total unit costs for full F26 may see modest inflation vs last year as we forecast increased navigation costs from higher Eurocontrol rates, maintenance costs due to inflationary pressures, partly reflecting the uncertainty around Pratt & Whitney’s engine redeliveries from shop visits, and higher depreciation costs related to the retirement schedule of the A320ceo family.”