The airline industry was dealt one of the hardest punches by the pandemic, but the pain hasn’t been evenly felt. International Consolidated Airlines Group is a giant that has struggled to get back on its feet. Its shares are still less than half their pre-Covid level, bruised by the heavy shareholder dilution that resulted from the €2.7 billion rights issue in October 2020. Wizz Air, an upstart valued more highly now than it was pre-Covid, is pursuing an aggressive expansion plan as rivals falter. Both carriers have been boosted by a further relaxation of travel restrictions and hopes that the Omicron variant is less severe than initially feared.
IAG and Wizz Air represent the worst and the best performers within the London-listed airline sector over
