Wizz Air H1 profits drop on aircraft groundings

Wizz Air Holdings Plc   Follow | WIZZ reported a drop in first-half profit on Thursday as the budget airline was hit by engine-related aircraft groundings.
In the six months to 30 September, earnings before interest, tax, depreciation and amortisation fell to €826m from €878.1m in the same period a year earlier.

Wizz said this reflects cost inefficiencies carried as a result of grounded aircraft due to geared turbofan engine inspections and the cost of one-off wet leased aircraft during…