Wizz Air is pulling back on its expansion plans through the peak summer season because of issues with Pratt and Whitney PW1100G engines that power much of its fleet. Required inspections on the equipment mean that 12 engines representing six aircraft will be removed from service by the end of September as part of a first tranche of checks, amounting to around 3% of capacity. Across the first half, which runs to end-September, this will moderate capacity growth from 30% to 25%, although the full extent of the impact remains unclear. "We don't know how long [it will take] to recover the engines wing to wing," said chief executive Jozsef Varadi during a financial results briefing on 3 August. He describes the problems as a "disturbing factor". P&W parent Raytheon Technologies disclosed during its second-quarter results on 25 July that a manufacturing defect would necessitate an accelerated inspection regime for PW1100G engines produced between 2015 and 2020. The type is an option for Airbus A320neo-family aircraft that make up the bulk of Wizz's fleet. But inspections could involve a far greater proportion of Wizz’s capacity as the OEM expands its scrutiny of equipment produced in the latter portion of the timeframe, the carrier warns. The second tranche covers around 1000 engines globally, Varadi says, although again details on the precise impact of the inspections are thin. "We don't know how many engines of ours are affected, we don't know the scope, we don't know the execution," he explains. As Wizz is P&W's largest customer for these engines, he speculates the OEM could provide them with expediated treatment and "a very high compensation from the manufacturer". The removal of capacity will also, he adds, enable Wizz to bolster yields as it focusses on the most profitable routes. Yet, this cannot conceal that the inspections introduce significant uncertainty into the medium-term plans for the carrier's expansion that will feed into its performance. As a result, Wizz warns that its guidance of 30% higher available seat kilometres (ASKs) against last year for the second half "remains subject to further communication from OEM on this matter". The news comes alongside a generally upbeat set of results with Wizz posting a €61 million ($67 million) net profit for the quarter to end-June, moderately beating market expectations. Load factor rose by 5.7 percentage points to 91.2% and costs fell on last year led by a return of the airline's fuel hedging programme that was hastily brought back last year amid surging kerosine prices. That saw expenditure for fuel per ASK decline by nearly a third and total unit costs slip by 6.3%. At the same time, limited market capacity drove up ticket prices and yields, with revenues rising to €1.2 billion from €808 million last year. Management is also positive on trading conditions going forward, with Varadi commenting: "We continue to observe positive trading in the second quarter with [revenue per available seat kilometre] trending higher year-on-year on the back of low double-digit percentage increased ticket revenue and a higher load factor, compared to the same period last year, expected to build up to 94%." Wizz retains a net-profit guidance of €350-450 million for the full year.

Defunct Indian carrier Jet Airways has had its air operator's certificate revalidated despite reports that creditors are running out of patience with its drawn-out resolution process. The airline states that the Directorate General of Civil Aviation renewed the certificate on 28 July, "thereby reinforcing its commitment to revive India's most admired airline". Jet's AOC was last validated in May 2022 for one year, and it was unclear if it would be able to retain the crucial regulatory approval after it expired this May. The Jalan Kalrock Consortium, which was chosen in 2021 as the successful resolution applicant to revive the airline, adds that it "remains fully dedicated to the revival of Jet Airways and is committed to implementing a comprehensive strategy to ensure the airline's success". Jet ceased operations in April 2019 as fierce competition in the domestic market took its toll on the carrier, and it entered insolvency resolution. Despite JKC having been appointed as the successful bidder over two years ago, progress on the revival has been slow, and in May it admitted that there had been delays in paying Jet's creditors, which is required before it takes over the stricken airline. Recent reports from India indicate that the State Bank of India and other lenders are losing patience with the slow pace of progress on the proposed revival plan, with some suggestion that they may lodge action to wind up Jet Airways instead. The consortium is a partnership between Indian businessman and property developer Murari Lal Jalan and alternative investment firm Kalrock Capital.

All Nippon Airways (ANA) has signed a carbon dioxide removal (CDR) credit purchase agreement with US-based 1PointFive. Under the agreement, the Japanese carrier will buy 10,000t of CDR credits per annum for three years beginning in 2025 from 1PointFive's direct air capture plant currently under construction in Texas. The facility, named Stratos, is expected to be commercially operational in mid-2025. "Direct air capture is a vital and scalable carbon removal technology that is necessary to help society achieve net zero," 1PointFive president Michael Avery states. "The aviation industry can uniquely benefit from DAC as a pathway to removing carbon emissions securely, practically and on a large-scale." ANA says the deal is aimed at further diversifying its decarbonisation methods to achieve carbon neutrality by 2050. The CO2 captured for the airline will be sequestered in saline reservoirs that are not used for oil and gas production, it adds.