Stock Spotlight: Wizz Air remains firmly grounded as sky-high fuel costs take toll

Plagued by issues

Elliot Gulliver-Needham
clock • 6 min read

With airlines across the world cancelling flights and struggling with staffing issues, none are currently suffering more than Wizz Air.

Wizz Air shares are down 56% year to date, while other budget airlines, such as easyJet and Ryanair, have seen a 20% to 30% drop in stock prices. This can partially be attributed to the scandals that have affected the company, such as the controversy sparked by CEO József Váradi, who suggested too many of the firm's pilots refuse to fly when tired. Váradi was seen in a leaked video telling employees that too many were taking time off for fatigue, adding that "sometimes it is required to go the extra mile". The European Union Aviation Safety Agency is currently investigating his commen...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

BennBridge UK joins growing industry trend with fresh job cuts

BennBridge UK joins growing industry trend with fresh job cuts

UK arm only

Cristian Angeloni
clock 14 March 2024 • 1 min read
Moody's departs from Canary Wharf offices - reports

Moody's departs from Canary Wharf offices - reports

Joins firms leaving finance hub

Eve Maddock-Jones
clock 14 March 2024 • 1 min read
Global dividends hit record $1.66trn in 2023

Global dividends hit record $1.66trn in 2023

Janus Henderson index

Cristian Angeloni
clock 13 March 2024 • 3 min read
Trustpilot