Wizz Air’s Share Price Rallied 6.28% on the Latest Passenger Data

The Wizz Air Holdings PLC (LON: WIZZ) share price rallied 6.28% after the budget airline released its latest passenger numbers and CO2 emissions data for January 2024. During the first month of 2024, Wizz Air experienced a significant rise in its passenger numbers, transporting 4,740,815 individuals. 

The surge in passenger numbers marks an increase of 14.2% compared to the previous year, with a load factor of 82.0%. The growth in passenger volume can largely be attributed to a surge in one-way Visiting Friends and Relatives (VFR) traffic and strategic adjustments in capacity to address the changes in geopolitical dynamics.

Wizz Air is dedicated to continually refining its network to suit these changing landscapes better, aiming to boost efficiency and aid in recovering load factors in future periods. Throughout January, Wizz Air expanded its network and enhanced its offerings to passengers. Highlights of the month include:

The airline reintroduced services from Aqaba in Jordan to Abu Dhabi as of 4th February. It also announced the resuming of flights to Tel Aviv, with new routes from cities including Budapest, Sofia, Bucharest, Krakow, London, and Rome, set to commence at the start of March.

The airline also received confirmation from the UK Civil Aviation Authority that it has met all customer service commitments.

Wizz Air continued achieving the lowest CO2 emissions per passenger kilometre among its peers, maintaining an average of 51.8 grams over the past 12 months ending January 2024. However, for January alone, the emissions stood at 54.9 grams per passenger kilometre, a 7.2% increase from the previous year's figure for the same month.

Wizz Air, a leading ultra-low-cost carrier in Europe, boasts a modern fleet of 198 Airbus A320 and A321 planes. The airline's commitment to delivering exceptional service at unbeatably low prices has made it the airline of choice for over 60.3 million travellers in 2023.

The airline was recently distinguished as one of the World's Top 5 Safest Low-Cost Airlines for 2024 by airlineratings.com, the sole agency globally to rate airline safety and product quality.

Wizz Air share price. 

The Wizz Air share price rallied 6.28% to trade at 2118.0p from Thursday’s closing price of 1992.8p.