Wizz Air Holdings (LSE:WIZZ) continued to expand its network and fleet during the quarter to 31 December 2025, reporting an 11.1% increase in available seat kilometre capacity and a 12.5% rise in passenger numbers to 17.5 million. Revenue grew 10.2% year on year to €1.30bn, reflecting the higher scale of operations, although the group recorded a larger operating loss of €123.9m as cost pressures intensified.
The wider loss was driven mainly by higher depreciation, airport and navigation charges and increased fuel costs. Unit revenue edged slightly lower overall, while cost per seat rose, highlighting ongoing margin pressure. Despite this, Wizz Air further strengthened its position in Central and Eastern Europe, where market share increased to 26%, and continued to add routes and bases across the region as well as at its key Western European hubs. The airline also made further progress in shifting its fleet toward higher-density, more fuel-efficient neo aircraft, even as Pratt & Whitney GTF engine issues continued to ground part of the fleet.
Liquidity improved during the quarter, with cash reserves rising to nearly €2bn, although net debt also increased. Looking ahead, management said it expects full-year capacity growth of around 10%, with load factors and unit revenues broadly flat year on year. Total unit costs are anticipated to rise modestly, and net income is expected to be close to break-even, reflecting a balance between continued operational resilience and persistent earnings headwinds from engine disruptions and inflationary costs.
Overall, the outlook is shaped by Wizz Air’s ongoing recovery in demand and its strategic growth ambitions. Valuation appears supportive and recent corporate developments are constructive, but high leverage and operational challenges linked to engines and cost inflation remain key risks.
More about Wizz Air Holdings
Wizz Air Holdings is a European ultra-low-cost airline focused on short-haul passenger services, with Central and Eastern Europe as its core market and strategic bases in London, Rome and Milan. The group operates one of the youngest fleets in Europe, heavily weighted toward Airbus A321neo aircraft, and positions itself as one of the most emissions-efficient airlines in Europe measured by CO₂ per revenue passenger kilometre.
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