Wizz Air has cut its profit forecast for the current financial year after operating profit fell 44 percent in the first quarter. The decline is partly due to problems with Pratt & Whitney engines and high costs of wet leases. Chief Executive Jozsef Varadi said competitors are offering lower fares, putting pressure on Wizz Air. The new forecast for net profit is 350-450 million euros, below the original estimate of 500-600 million euros. Operating profit in the first quarter was 44,6 million euros, while analysts had expected 144,3 million euros. Despite these setbacks, demand for flights remains strong. Wizz Air plans to expand its capacity with new Airbus aircraft. Currently, 46 aircraft are grounded for engine inspections, limiting capacity. The aviation sector in general is struggling with the impact of the pandemic, delays at Boeing and Airbus, and other supply chain challenges.