Wizz Air cuts annual forecast after first-quarter profit slumps 44%

Wizz Air lowered its annual profit forecast on Thursday after reporting a 44% drop in first-quarter operating profit, partly due to costs related to Pratt & Whitney’s engine troubles.

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The budget carrier forecast net income for the year in the range of 350 million euros to 450 million euros ($379 million -$487 million), from an earlier forecast of 500 million euros to 600 million euros.