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Wizz Air cites Middle East conflict as it warns on profits, shares tank
(Sharecast News) - Shares in Wizz Air tumbled on Thursday after the airline downgraded its full-year profit expectations, pointing to the current crisis in the Middle East. In a statement after the close of markets on Wednesday, Wizz said the conflict in Iran would dent its FY26 net profits by around €50m.
About a third is a result of 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, it said.
Wizz said its assessment is based on jet fuel and US$/€ rates as of today, and assumes these will remain at current levels for the rest of 2026.
As a result, the airline expects reported net profits to be below the guidance given in January for between a net loss of €25m and a net profit of €25m.
At 1535 GMT, the shares were down 10.3% at 988p.
According to broker Panmure Liberum, which rates the stock at 'sell', the profit warning shows the group's lack of resilience. Panmure slashed its price targe to 600p from 960p.
Goodbody also cut its price target on the stock following the profit warning, to 760p from 950p. It said Wizz was both more exposed to the region and less hedged on fuel in FY27 than its peers.
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