By Guy Taylor Wizz Air profits collapsed in the first three months of its financial year as issues with its Pratt and Whitney-manufactured engines grounded scores of its planes. Operating profit at the budget airline fell from €79.9m to €44.6m, well below analyst expectations of €144.3m. Revenue rose a marginal 1.8 per cent to €1.3bn, although this was also below analyst forecasts. The update sent shares plummeting beyond 14 per cent in early trading. It came despite Wizz carrying the same number of passengers as last year (15.3m) at the start of the busier summer months. The Hungarian carrier…