Wizz Air's Q3 loss swells on MidEast disruptions

STORY: Wizz Air earnings struggled to take off during the third quarter.

The airline on Thursday announced a bigger-than-expected operating loss of $196 million.

That was up on the same period last year, and worse than analysts had forecast.

Part of the budget carrier's fleet was grounded due to issues with engines supplied by RTX, and Wizz said it would face capacity reduction as a result.

The carrier also lost out through the suspension of flights due to conflict in the Middle East.

But it stuck to net income expectations for fiscal 2024.

Wizz was reassured after a positive start to its fourth quarter ending March.

The company added bookings going into the Easter holidays were strong.

Investors weren't impressed by Thursday's update though, and Wizz shares fell as much as 8% before recovering some ground.