Wizz Air passenger numbers slump 85% in November
By Michele Maatouk
Date: Wednesday 02 Dec 2020
(Sharecast News) - Budget airline Wizz Air reported a slump in November traffic on Wednesday as passenger numbers continue to be dented by the Covid-19 pandemic and related restrictions.
Passenger numbers slid 84.7% from last November to 456,487 and the load factor - which gauges how full the planes are - fell to 68.2% from 92.8%. The airline said it was operating at 21% of its capacity.
On a rolling 12-month basis, passenger numbers declined 50.6% to 19.3m and the load factor came in at 77.9% versus 93.6%.
Broker Peel Hunt said it does not expect the weakness in passenger volumes to improve before the fourth quarter of next year, when it assumes a 50% decline year-on-year. It reiterated its 'sell' recommendation on the stock, saying the current rating is "too high given the recovery risks".
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