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Wizz Air Holdings PLC (AIM:WIZZ) faces a slower earnings recovery than the almost "hockey stick" that investors expect, leading RBC Capital Markets to downgrade the budget airline. Moving to an 'underperform' rating from 'sector perform', the investment bank kept its £9 share price target, implying about 20% downside from the last close, arguing that the market is pricing in a much stronger rebound in profits than…

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.

Wizz Air LON: WIZZ reported a return to pre-tax profitability and said it expects market disruption later in the year to create opportunities for the low-cost carrier, even as it continues to manage engine-related aircraft groundings and a reshaped network.

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.