Wizz Air (WIZZ) Q2 2025 earnings summary

Executive summary

• Achieved H1 F25 net profit of €315.2 million, down 21.3% year-over-year, with strong passenger demand and a stable load factor of 92.4%, despite significant challenges from GTF engine groundings, Middle Eastern conflict, and higher wet leasing and maintenance costs.

• Revenue and RASK both increased 1.4% year-over-year, supported by network optimization and strong ancillary revenue streams.

• Strategic focus on densifying core European markets, reallocating capacity from underperforming to high-demand areas, and exiting wet leases.

• Recognized for sustainability leadership, including being named the most sustainable airline in Europe for the third consecutive year.

• Robust liquidity maintained, with €1.84–1.86 billion in cash after significant bond repayments and strong free cash flow.

Financial highlights

• H1 F25 revenue was €3,066.1 million, up 0.5% year-over-year, with net profit of €315.2 million and EBITDA of €826 million, down 5.9% year-over-year.

• Capacity in ASK terms down 1% year-over-year, but seat terms up 1% due to reduced stage lengths and increased sector productivity; load factor stable at 92.4%.

• Passenger numbers up nearly 1% to 33.3 million, with a record 6.2 million in August.

• Ex-fuel CASK up 15.4–15.5% year-over-year, while fuel costs decreased 1.9%.

• Cash-to-revenue ratio in the mid-30% range, with free cash flow conversion ratio roughly 100% in H1.

Outlook and guidance

• Full-year F25 net profit guidance maintained at €350–450 million, with RASK expected to rise mid-single digits and ex-fuel CASK up mid-teens.

• Capacity guidance for F25 is up 1% year-over-year, with load factor at 92%.

• Fuel costs expected to be better than previously guided, with 80% of H2 needs hedged; ex-fuel costs higher due to groundings and wet lease impacts.

• Management confident in delivering net profit guidance, supported by strong winter demand, Q3 load factors up 2–3ppt, and cost-saving programs.

• Fiscal 2026 expected to see 15–20% growth, with ex-fuel CASK projected to decline low single digits year-over-year.