Wizz Air Becomes One of London’s Most Shorted Stocks as Bears Pile In on Engine Crisis and Middle East Losses

Wizz Air Holdings (LON: WIZZ) has become the second most shorted stock on the London market, with disclosed short positions totalling 13.04% of its shares in issue, behind only brick manufacturer Ibstock at 15.3%, according to FCA disclosures tracked by ShortTracker.

Shares in the ultra-low-cost carrier closed Friday’s session at 976.5p, well beneath the 200-day moving average of 1,145p. The 52-week range spans 832p to 1,694p.

Eleven institutional investors hold disclosed positions above the FCA’s 0.5% reporting threshold. The largest belongs to JPMorgan Asset Management (UK) Ltd at 2.84%, followed by quantitative giant D. E. Shaw & Co. LP at 2.75%.

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Fundamental manager Argonaut Capital Partners holds 1.16% — a position it increased by 0.22 percentage points in late April — while Two Sigma Investments LP sits at 1.39%. Citadel entities combine for roughly 1.47%, with Voleon Capital Management, WorldQuant, Millennium International, Point72 Europe, and Connor, Clark & Lunn rounding out the short book.

The breadth is notable: systematic quant funds and fundamental stock-pickers have converged on the same bearish view.

Short interest was negligible at around 1% in early 2025 before surging to a peak of 16.22% in mid-March 2026, closely tracking a period of intensifying operational pressure.

Three overlapping headwinds drive the shorts. First, Pratt & Whitney GTF engine groundings have forced Wizz Air into costly wet-lease arrangements, helping push Q1 FY2026 profit down 38% year-on-year.

Second, Middle East regional unrest has dealt an estimated €50–58 million blow to FY2026 profits, hitting the airline’s Abu Dhabi joint venture.

Third, earnings estimates have deteriorated sharply: analysts forecast a full-year FY2026 net loss of -€0.34 per share, widening to -€1.48 in FY2027, while the trailing operating margin stands at -9.56%.

With summer trading the critical swing factor, investors will be watching Q1 FY2027 results closely for signs that the turbulence is beginning to ease.