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Ryanair, Wizz Air June Passenger Traffic Numbers Rise

Stock Markets Jul 04, 2022 04:33AM ET
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© Reuters.

By Scott Kanowsky 

Investing.com -- Budget carriers Ryanair (IR:RYA) and Wizz Air (LON:WIZZ) reported an uptick in passenger traffic figures for June on Monday, in tentative signs that a post-pandemic recovery in customer demand is returning despite headwinds facing the broader air travel industry.

Ryanair said it carried a record monthly high of 15.9 million passengers during the period, more than the treble amount posted last year. The airline's load factor, which measures how much seating capacity has been filled by customers, also rose to 95% from 72%.

Elsewhere, Hungarian-based peer Wizz Air said it flew more than 4.30 million passengers in June, up by over 178% year-on-year. The carrier's load factor for the month also jumped to 86.1% from 64%.

The increases point to a potential comeback for demand for the airlines, particularly during the key summer travel season. However, issues still persist for the companies and the broader airline sector.

Ryanair is facing strikes from cabin crew unions across Europe, as they call for wage hikes and improved working conditions. The labor actions have recently led the low-cost carrier to delay and cancel flights.

Wizz Air has warned of rising costs stemming from axed flights and "operational hiccups" at airports, especially in the United Kingdom. It also said earlier this year that it expects to slump to an annual loss of between €632 million and €652 million, despite an expected pick-up in summer bookings.

Meanwhile, global airlines are battling to contain their losses as pandemic-era restrictions are lifted across the world. But industry leaders have flagged that labor shortages at carriers and airports may cause further travel disruptions and potentially weigh on future growth.

 
Ryanair, Wizz Air June Passenger Traffic Numbers Rise
 

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