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Wizz Air H1 revenue falls 33% on engine examinations, Mideast dispute

Wizz Air on Thursday published a. 33.2% drop in operating revenue for the very first half of the year,. due to continuous problems with engine inspections that grounded its. Jet planes and the impact of the Middle East dispute on. operations.

The European budget provider posted an operating earnings of. 349.2 million euros ($ 375.39 million) for the six months ended. Sept. 30, compared with a revenue of 522.9 million euros a year. earlier.

Wizz Air's bleak results remain in line with European providers. like Air France-KLM and Ryanair, which have. seen profit margins squeezed by spiraling costs, muted need,. and rising competition.

The company kept its annual earnings projection in the. 350 million euros to 450 million euros range.

(source: Reuters)