Wizz Air traffic up 14% in January, shares jump

Budget carrier Wizz Air Holdings (LSE: WIZZ) on Friday reported a 14% increase in passenger numbers for January 2024 even as it suspended flights to Israel amid ongoing conflict.

The Hungary-based airline said it carried 4.7 million passengers last month, up from 4.1 million in January 2023. However, its plane load factor fell by four percentage points to 82% as capacity grew by a faster 20% rate to 5.8 million seats.

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Its carbon emissions in January grew 24% to 475,294 tonnes from 382,749 tonnes last year.

The airline attributed the dip in load factor to the removal of its flights from online travel agent websites in December as well as the temporary cancellation of routes to Tel Aviv. It plans to restart Israel operations in March.

Wizz Air said it operated over 23,500 flights in January with no cancellations.

Its share price traded 6.1% higher on Friday morning at 2,106.00 pence. The stock is down 26% over the past 12 months.