Wizz Air shares take off as passenger numbers jump in January

Wizz Air was the FTSE 250’s top riser on Friday morning after the airline reported a sharp jump in passenger numbers in January as it plans to reinstate a number of routes to the Middle East.

Wizz Air shares were over 7% higher as the group announced a 14.2% increase in passengers carried in January 2024 to 4,740,815, compared to the same month last year.

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Notable reinstated routes include flights between Aqaba, Jordan and Abu Dhabi which will resume on February 4th. Wizz Air also announced it will restart operations to Tel Aviv from six cities – Budapest, Sofia, Bucharest, Krakow, London and Rome – beginning in March.

The airline says it is optimising its network and adapting to dynamic conditions in order to improve efficiency and load factors going forward.

In terms of sustainability, Wizz Air reported CO2 emissions of 54.9 grams per passenger/km in January, a 7.2% increase over the same month last year. However, the airline maintains the lowest emissions among competitors on a rolling 12-month basis.

Today’s announcement will be welcome news to investors who will look forward to a strong summer bookings season with the inclusion of routes to the Middle East.

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Wizz Air joined peers, including easyJet, in suspending routes to the Middle East at the beginning of the Gaza war last year.

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