Wizz Air profit wiped out by rising fuel pricesWizz Air swung to a net lossSoaring jet fuel prices caused by the conflict in the Middle East led to a sharp drop in Wizz Air’s profit. The FTSE 250 group saw total revenue inch up 5.5 per cent to €1,507.4m, driven by a 25.1 per cent increase in passengers. But revenue per available seat kilometre decreased by 8.1 per cent as weaker fares squeezed profits. “Despite strong growth in passenger numbers and revenue…higher fuel costs and weaker fares squeezed yields, highlighting how cost pressures continue to offset the benefits of capacity growth.” Analysts are now questioning if “strong summer demand” can “help drive recovery”.