Wizz Air Holdings (GB:WIZZ) today released its traffic data for December 2024. The airline reported a 1.9% year-on-year rise in passenger numbers to 5.06 million in December. The airline further highlighted that the favorable booking trends observed in November continued into December. Moving ahead, Wizz Air remains optimistic for FY25 as bookings data for its fourth quarter ending in March 2025 is already surpassing last year’s figures by more than 2 percentage points. Wizz Air Shares gained 0.071% as of writing.
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Based in Hungary, Wizz Air is a low-cost airline that provides flights to around 200 destinations in Europe and the Middle East.
Wizz Air Reports December Metrics
In December, the load factor improved by 4.3 percentage points, reaching 86.5%.
On the flip side, seat capacity declined by 3.1% compared to the same period a year ago. This was mainly due to the continued grounding of aircraft due to ongoing issues with Pratt & Whitney engines. Pratt & Whitney is a U.S.-based aerospace company that supplies engines to Wizz Air.
Earlier this week, Wizz Air revealed that 40 Airbus (DE:AIR) A320neo family aircraft will remain through 2026, as it continues to face challenges with Pratt & Whitney engine problems. Meanwhile, both companies reached an agreement on compensation terms on December 31. Overall, negotiations regarding engine selection continue as Wizz Air looks for the most cost-effective engine solution.
Is Wizz Air Stock a Buy?
According to TipRanks consensus, WIZZ stock has been assigned a Hold rating backed by three Buy, three Hold, and two Sell recommendations. The Wizz Air share price target is 2,846.25p, which implies an upside potential of 103.5% from the current share price.
In 2024, Wizz Air shares declined by over 30%.
