Wizz Air Shares Dropped 2.23% Despite Upbeat Passenger Figures

The Wizz Air Holdings PLC (LON: WIZZ) share price dropped 2.23% after releasing its May passenger figures, which surprised to the upside. The budget airline carried 5,026,575 passengers, marking a 22.1% increase compared to May 2022, at a 90.2% load factor.

Interestingly, Wizz Air shares fell instead of rising on the report, which also highlighted significant operational milestones as the airline continues to grow its operations. The airline announced significant growth in its Polish operations, adding another aircraft and bringing its fleet to 11.

The company also launched new routes from its Polish bases, including Katowice to Copenhagen and Alicante; Gdansk to Copenhagen, Tenerife and Alicante; and Wroclaw, Malaga and Krakow to Valencia. 

Wizz Air also announced a further expansion in Albania, adding another aircraft to the routes bringing its total fleet to 11 aircraft. The new aircraft was allocated to its Tirana base allowing the airline to launch three unique direct routes to Bremen, Valencia and Thessaloniki while increasing frequencies on ten other routes. 

The budget airline also launched two new routes from London’s Gatwick Airport to Hurghada and Prague. After adding a fourth plane to the base, the company also added 800,000 seats o Catalina, Italy, which will serve seven new routers and increase the frequency on nine existing routes. 

Wizz Air also announced its expansion into North Macedonia, where it allocated a sixth aircraft to the base at Skopje. The airline intends to launch two new routes from Skopje in autumn and winter while adding the frequencies on nine existing routes. 

As for its CO₂ emissions, the company operated five flights from Budapest Airport with a 37% blend of Neste MY Sustainable Aviation Fuel™ produced from renewable waste and residue raw materials supplied by MOL, an oil and gas company based in Hungary. The project supports the company’s efforts to reduce CO₂ emissions. 

Wizz Air continues to operate with the lowest CO₂ emissions per passenger/km among all competitor airlines, with 52.9 grams per passenger/km for the 12 months to 31 May 2023. 

*This is not investment advice. 

Wizz Air share price. 

The Wizz Air share price dropped 2.23% to trade at 2737.5p, from Thursday’s closing price of 2800.00p.