In a bold move, European budget airline, Wizz Air WZZZY has introduced an annual subscription pass offering unlimited flights for $550.
What Happened: The “all you can fly” pass will be available at this introductory price until Friday, after which it will rise to 599 euros. The pass enables passengers to book one-way and roundtrip flights to any of Wizz Air’s international destinations, up to three days before departure, with the booking window set to open in September, CNBC reported on Thursday.
Each booking will incur an additional flat fee of 9.99 euros ($11), and any luggage beyond one personal item will attract extra charges. The airline aims to initially release 10,000 memberships, with seat availability subject to several factors.
This initiative follows similar subscription packages introduced by U.S. carriers like Frontier Airlines, which announced a $599 unlimited pass for its North America routes last year. However, this concept is still relatively new in Europe.
Wizz Air’s move comes at a time when the airline is grappling with declining profits and customer satisfaction, amid wider pressure on the sector following the post-pandemic travel boom. The Hungarian airline reported a 44% drop in its first-quarter operating profit earlier this month.
Why It Matters: The launch of the pass by Wizz Air comes after the company took the spot of the least punctual airline in the U.K. for the third time in a row, as per Civil Aviation Authority data.
Air travel around the world has been affected by efforts to reduce carbon emissions, leading to increased ticket prices to cover the costs. The price of sustainable aviation fuel, which is crucial for meeting the industry’s goal of achieving net-zero emissions by 2050, is more than double that of traditional jet kerosene. As a result, airlines have had to pass on the extra cost to passengers.
In the U.S., domestic air travel hit a record high in the first half of 2024, with airlines showing significant operational improvement.
However, European carriers like Wizz Air are facing challenges due to factors such as the ban on short-term rentals in popular vacation destinations.
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Image by Oyoyoy via Wikimedia Commons
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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