If you’ve spent any time looking at the Wizz Air share price lately, you know it’s been a bit of a rollercoaster. One day it’s soaring on strong passenger numbers, the next it’s taking a hit because of engine issues or geopolitical jitters. Honestly, the London Stock Exchange hasn't been the kindest place for airline stocks recently, but Wizz Air seems to have its own unique brand of volatility.
Currently, as we sit in mid-January 2026, the stock is hovering around the 1,290p mark. It’s a far cry from its 52-week high of 1,818p, yet it’s managed to crawl back from the depths of sub-1,000p levels seen not too long ago.
Investing in a low-cost carrier (LCC) like Wizz isn’t for the faint-hearted. You’re basically betting on a company that thrives on thin margins and high volume while dodging massive external curveballs.
The Engine Crisis No One Can Ignore
You can't talk about the Wizz Air share price without mentioning Pratt & Whitney. It sounds technical and boring, but it’s the single biggest anchor on the stock right now.
The "powder metal" defect in the GTF engines has been a nightmare. Basically, Wizz was forced to ground about 40 of its Airbus A320neo aircraft—nearly 20% of its fleet—just to make sure the engines don't, you know, fail mid-flight.
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- The Grounding Impact: Having nearly 40 planes sitting on the tarmac instead of in the sky is expensive.
- Compensation: Pratt & Whitney is paying up, but as CFO Ian Malin has pointed out, that cash only covers the direct costs, not the "what could have been" profit from those lost seats.
- The Timeline: They’re hoping to have the whole fleet back in the air by the end of 2027. That’s a long time to wait for "normal" operations.
It’s a weird situation. On one hand, Wizz is flying more people than ever—hitting 5.8 million passengers this past December alone. On the other hand, they’re doing it with one hand tied behind their back.
Why the Wizz Air Share Price Still Matters to Bulls
Despite the engine drama, some big-name analysts are surprisingly bullish. Bernstein, for instance, has been keeping a "Buy" rating with price targets as high as 3,000p. That seems aggressive, doesn't it?
But look at the logic. Wizz Air is dominant in Central and Eastern Europe (CEE). They’re expecting their market share there to hit 29% this year. While Ryanair is the big bully on the block, Wizz has carved out a niche that’s hard to break.
They also have a massive order book of A321neo aircraft. Once the engine issues are sorted, they will have one of the youngest, most fuel-efficient fleets in the world. In the airline game, fuel is the biggest cost. If you burn less of it, you win.
The Competition: Wizz vs. Ryanair
Ryanair CEO Michael O’Leary is never one to stay quiet, recently making some pretty bold (and legal-action-triggering) comments about Wizz Air’s stability. Wizz's József Váradi didn't take that lying down, of course.
The reality is that Ryanair has better "operational reliability" right now because they use Boeing 737s, which aren't currently facing the same specific engine recall. But Wizz’s strategy of "network densification"—adding more planes to hubs like Rome Fiumicino and London Luton—is starting to pay off in passenger growth.
What the Numbers Actually Say
Let's look at the hard data from the recent H1 F26 results.
Revenue was up 9% year-on-year, which sounds great. Operating profit also saw a 25% surge. But—and this is a big "but"—the net profit took a hit due to tax adjustments and some "below the line" expenses.
Investors hate "messy" earnings. They want clean growth. Right now, Wizz Air is anything but clean. It’s a recovery story with a lot of moving parts.
The P/E ratio is currently around 6.8, which looks incredibly cheap compared to historical averages or even some tech stocks. But low P/E ratios in airlines often signal that the market is scared of future earnings drops.
Is the Bottom In?
Technical analysts point out that the stock has found some solid support around 1,180p. Every time it dips near there, buyers seem to step in.
There's also the "Sunshine" factor. No, I don't mean the weather in Ibiza. Wizz refers to their peak summer performance this way. If they can get through the upcoming summer season without massive disruptions or another geopolitical flare-up in the Middle East (which forced them to close their Abu Dhabi base recently), the stock could re-rate quickly.
Key Risks to Watch:
- En-route Charges: Countries like Germany have hiked air traffic control fees by nearly 30%. You can't hedge against that.
- Fuel Volatility: While fuel prices have stabilized, any spike in oil immediately eats the bottom line.
- The "Wizz" Reputation: Let's be real—customer service hasn't always been their strong suit. Negative reviews and reputation hits can eventually dent demand.
Actionable Insights for Investors
If you're watching the Wizz Air share price, don't just look at the daily ticker.
Keep a close eye on the January 29, 2026 earnings announcement. That’s the next big catalyst. If they beat the consensus EPS of 2.15, we could see a breakout toward that 1,400p resistance level.
Next Steps for Your Portfolio:
- Check the "Available Seat Kilometers" (ASK) in the next report. If capacity is growing despite groundings, efficiency is improving.
- Monitor the Pratt & Whitney compensation updates. Any sign of "extra" payments is a direct win for the balance sheet.
- Watch the Euro-to-Dollar exchange rate. Wizz reports in Euros but buys fuel and planes in Dollars. A weak Euro is bad news for this stock.
Wizz Air is a high-beta play. It moves faster than the market, both up and down. If you believe the engine crisis is a temporary blip and the CEE growth story is real, current levels might look like a bargain in two years. If you think the "structural costs" of the grounding are permanent, you might want to stay on the sidelines.