Airline Industry Rebounds as Ryanair and Wizz Air Report Surge in Passenger Numbers

Ryanair and Wizz Air have reported a surge in passenger numbers, indicating that the airline industry is recovering from the hit it took from COVID-19 lockdowns and travel restrictions.

Ryanair reported its highest ever number of passengers carried in a single month, with 17 million passengers in May.

This is an increase of over 10% from the previous year and represents a new record for the airline.

Ryanair also reported near-record profits of €1.4 billion for the 12 months to March 2022, and plans to increase passenger numbers by 10% to a total of 185 million this financial year.

Meanwhile, Wizz Air reported a 22.1% rise in passenger numbers, with just over five million people flying on its planes last month.

The set of figures provides further evidence of the airline industry's recovery, with Heathrow Airport reporting a 74% rise in passenger numbers during the first three months of the year.

Despite the positive news, both Ryanair and Wizz Air have faced challenges.

Ryanair reported adjusted losses of €139 million during the period and warned shareholders would not receive any dividends in 2023.

Wizz Air's figures also include data from earlier this year, which showed it was the worst major airline for flight delays from the UK in 2022.

The boost for Wizz Air comes despite data earlier this year showing it was the worst major airline for flight delays from the UK in 2022.

The low-cost carrier announced further expansion, including adding an 11th plane to its Warsaw base and branching out into Albania.

Wizz Air is due to release its full-year results next Thursday.

Overall, the comeback of the airline industry is a positive sign for the economy, with the boost in passenger numbers and improved profitability expected to have a positive impact on the industry as a whole.