Soaring ticket prices shock Hungarian travellers on Wizz Air

Airfares around the world have soared since the outbreak of the conflict in Iran, and Hungary’s most affected travellers – those flying with Wizz Air – are certainly feeling the impact.

Fivefold prices: flying costs go through the roof

For those planning long-haul flights this summer, recent developments may have come as a harsh shock.

The surge in prices comes in the wake of US strikes against Iran, which sent oil prices soaring, while the Strait of Hormuz has effectively been closed due to Iran’s retaliatory measures, reports Világgazdaság. Longer diversion routes, higher fuel costs, and reduced capacity have combined to trigger a dramatic spike in ticket prices.

How is Wizz Air responding?

Among European low-cost carriers, Wizz Air has been hit the hardest by the conflict. Following Israeli and US strikes, the airline suspended all flights to the Middle East. According to Gábor Bukta, analyst at Concorde Értékpapír, the suspension of flights to Israel, Dubai, Abu Dhabi, and Amman affects around 8–10% of Wizz Air’s weekly capacity.

The airline is redirecting 60–70% of its Middle Eastern capacity to European destinations such as Italy, Spain, Greece, and Albania. While this may ease demand pressure in the short term, the financial impact is clear: Wizz Air estimates that the conflict will cost the company around EUR 50 million in the financial year ending March 2026, turning expected profits into losses.

A EUR 50 million hole in the budget

The consequences of the cancellations were immediate. In a statement released after the stock market closed, Wizz Air reported a EUR 50 million negative impact on its net earnings due to the Iranian conflict. Back in January, the airline had forecast net results between -EUR 25 million and +EUR 25 million.

CEO József Váradi sought to reassure investors in an interview with Reuters, noting that the impact of this crisis is likely to be less severe than the war in Ukraine, and that the company expects growth in the new financial year starting in April.

Is there a way out?

Recently, Wizz Air reintroduced its WIZZ MultiPass subscription to the Hungarian market. The system allows passengers to book flights at fixed prices for a year – an option the airline says is particularly beneficial for frequent travellers who want to plan their flying costs in advance.

For a one-way ticket, the first month costs HUF 68,108, with subsequent months billed at HUF 24,774. For return flights, the initial payment is HUF 136,216, followed by a monthly fee of HUF 49,548. Wizz Air promises that the MultiPass could save passengers up to 30–40% on popular summer routes, potentially helping to offset the financial impact of the Iranian conflict.

When might things calm down?

According to Váradi, Wizz Air is expected to operate at full capacity again by late May or early June. However, global price rises are not likely to disappear overnight: experts warn that as long as tensions around the Strait of Hormuz remain unresolved, oil prices – and with them fuel costs – will stay high.

Travellers are therefore advised to make their bookings as soon as possible. Those hoping to fly this summer can still secure tickets at relatively predictable prices, but this window of opportunity is narrowing fast.

If you missed it:

• Winter strikes back: Snowstorms and fierce winds sweep Western Hungary