Wizz Air's shares plummet as the airline cuts profit forecasts amid rising costs and economic uncertainties.

Wizz Air, a budget airline, saw its share price drop by 12.8% on Thursday, with trading volume up 493%. Despite carrying 62 million passengers last fiscal year, the company reported a wider net loss of €241.1 million for Q3 2022 and reduced its net income forecast for 2025 to €125-175 million due to rising costs and economic uncertainties. Wizz Air projects a reported net profit between €250-300 million for its current fiscal year, down from an earlier forecast of €350-450 million.