Investors have continued to unwind bearish bets against European airlines over the past month, according to Citi. The bank published fresh positioning data, drawn from its quantitative team, showing how investors are betting on the sector.
The low-cost carrier posted a slump in net profit for the year through March and said it wasn't providing guidance for fiscal 2027.
Wizz Air Holdings PLC (AIM:WIZZ) reported a near-collapse in annual profit after aircraft groundings, higher costs and disruption in the Middle East offset record passenger growth. The low-cost airline carried a record 69.7 million passengers in the year to 31 March, up 10% from 63.4 million a year earlier, helping revenue rise 8% to €5.69 billion.
Wizz Air said on Monday that it would offer Elon Musk's Starlink satellite internet across its fleet from next year, becoming the first European ultra-low-cost carrier to do so.