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Wizz Air CEO: Deal with Pratt & Whitney will help clear the engine servicing block.

Wizz Air's CEO said on Monday that the company is negotiating a deal to speed up the maintenance of its jet engines. Delays in servicing have caused large parts of the European low cost carrier's fleet to be grounded.

A defect in the powder used to manufacture high-pressure turbo-compressor discs and turbines has affected certain Pratt & Whitney GTF engine, disrupting global airlines, including Wizz which fly Airbus A320neo family jets.

If the unreported discussions result in a contract, it could help Wizz to get its fleet up and running faster, boost investor trust, and lift the struggling carrier's share price. The company's departure from the Abu Dhabi Market earlier this summer gave it some additional support.

The defect has hit Wizz Air’s all-Airbus aircraft fleet particularly hard, as the industry struggles with delays in supply chains for repairs and maintenance.

The groundings have contributed to Wizz Air's shares being among the worst performers on the European airline market over the past year.

Wizz aims to complete the accelerated agreement with Pratt & Whitney before reporting its first half year results on November 13th, Jozsef Varradi stated.

He said that the P&W talks were in a broader sense related to a deal announced in Paris for additional engines in June.

Varadi said in an interview that "we're going see a lot more engines going into workshops for maintenance work." "The improvement is that these engines are recovered earlier."

Varadi said to Bloomberg in early February that he aimed to turn Wizz Air around by the middle of 2027. He did not mention the Pratt & Whitney acquisition. (Reporting and editing by Jan Harvey; Joanna Plucinska)

(source: Reuters)