Wizz Air reports a 62% profit drop due to engine issues, despite record passenger numbers.

Wizz Air, a Hungarian budget airline, reported a 62% drop in annual profits to €167.5 million due to engine issues grounding about 20% of its planes. Despite the challenges, the company carried a record 63.4 million passengers and secured a two-year compensation package with engine manufacturer Pratt & Whitney. Wizz Air expects the number of grounded aircraft to decrease but faces rising operational costs.