Wizz Air Holdings (WIZZ)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

2,020.00p
   
  • Change Today:
    -96.00p
  • 52 Week High: 3,113.00
  • 52 Week Low: 1,546.50
  • Currency: UK Pounds
  • Shares Issued: 103.36m
  • Volume: 480,069
  • Market Cap: £2,087.89m
  • RiskGrade: 205

Wizz Air pays out £1.2m in compensation claims after regulator probe

By Frank Prenesti

Date: Wednesday 17 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Wizz Air has been forced to pay out £1.2m to passengers whose claims for compensation were falsely rejected after flight delays in the chaotic summer of 2022.
The UK's Civil Aviation Authority (CAA) stepped in last July and ordered the budget carrier to review thousands of claims after a record number of complaints from passengers.

The payments were made after around 6,000 applications were reviewed for a second time out of 25,000 claims.

Airlines are required by law to cover the cost of replacement flights for travellers when they cancel a flight and can't provide another quickly.

Passengers across Europe were left stranded as air traffic control strikes and staff shortages after the industry laid off thousands of workers during the Covid-19 pandemic.

Wizz, which was the worst airline for flight delays in 2021 & 2022, was also subject to a multitude of County Court claims from frustrated passengers.

In response, Wizz did not mention the compensation payouts, but said it had enhanced its claim handling system by incorporating an automated refund process, spent £90m to improve its performance, contracted four new call centres and identified and paid "all known" County Court Judgements.

Reporting by Frank Prenesti for Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

WIZZ Market Data

Currency UK Pounds
Share Price 2,020.00p
Change Today -96.00p
% Change -4.54 %
52 Week High 3,113.00
52 Week Low 1,546.50
Volume 480,069
Shares Issued 103.36m
Market Cap £2,087.89m
RiskGrade 205

WIZZ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
23.65% below the market average23.65% below the market average23.65% below the market average23.65% below the market average23.65% below the market average
29.41% above the sector average29.41% above the sector average29.41% above the sector average29.41% above the sector average29.41% above the sector average
Price Trend
23.89% below the market average23.89% below the market average23.89% below the market average23.89% below the market average23.89% below the market average
27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average
Income Not Available
Growth
57.17% above the market average57.17% above the market average57.17% above the market average57.17% above the market average57.17% above the market average
43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average

What The Brokers Say

Strong Buy 4
Buy 5
Neutral 11
Sell 0
Strong Sell 2
Total 22
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

WIZZ Dividends

No dividends found

Trades for 17-May-2024

Time Volume / Share Price
16:35 8,056 @ 2,020.00p
16:35 8,056 @ 2,020.00p
16:35 178,267 @ 2,020.00p
16:35 327 @ 2,020.00p
16:35 245 @ 2,020.00p

WIZZ Key Personnel

Chair William Franke
CEO Jozsef Varadi

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