RE: May 23rd 2023 was over £32 a share............28 Jan 2024 20:15
Keeppluggingaway:-
Blow me it has shot upto day...this share baffles me.
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EC,
Why? The sp went from £32 a share to about £16 when it turned out they had unfortunetely chosen the Pratt & Whitney engine for some their new planes they had already received. As you should know after some issues in hoter countries like Egypt they found the metal used in one part of the engine had been contaminated whilst molten inproduction. So the planes with these engines needed to be checked at much lower flight hours than originally specified resulting in many more planes grounded while the checks were made etc.. I should add the sp fall to £16 was outrageous and only proves to me how insane the stock market is. Note I bought some @ below £16 as I thought the sp was just daft, now it in £20.62 a share and it's still mad, mad, mad low.
The upshot is, obviously IMHO, Easyjet are a major competitor and their results ther other day were very very good. WIZZ should have been benefitting from the excellent demand in the low cost side of the airline industry. They are working through the engine inspection issue. Also WIZZ do not have any Boeing planes at all, and we all know the bad press that have had....................................................
It's obviously a BUY. Up to £26 a share and more.......
All IMHO.