Wizz Air (LON: WIZZ) reported a 70% rise in passenger numbers year on year in November, providing further evidence that the airline's turnaround continues.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
Wizz carried 3.68 million passengers in November, representing a 69.6% increase compared to November last year, at a load factor of 88.1%. In the last 12 months, the low-cost carrier has carried 44.1 million travellers, a 123% rise.
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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
Despite the cost of living crisis, several travel-related companies have reported strong demand in recent updates, with cruise lines Royal Caribbean and Carnival reporting record Black Friday and Cyber Monday bookings and Ryanair recently stating, “Christmas is very strong.” Last week, Jet2 reported a return to profit and lifted its full-year outlook.
Wizz Air's Chief Executive Jozsef Varadi was reported to have told a conference in Gibraltar on Thursday that bookings were intact for the next three months.
In November this year, Wizz Air's capacity rose 46.5% to 4.18 million from 2.85 million last year.
Wizz Air shares are up 1.7% so far Friday. Despite its over 32% rise in the last month, Wizz Air shares are still down almost 46% in 2022, as the travel recovery has been met with macro headwinds such as soaring inflation and staffing issues.
According to TipRanks, out of six analysts covering Wizz Air, two have assigned a Buy rating to the stock, three have assigned a Hold rating, and one sees the stock as a Sell.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.