March 6 (Reuters) - Causeway Capital Management has increased its stake in Wizz Air to 5.04%, a regulatory filing showed on Friday, positioning the activist investor among the top shareholders of the
US-based investor Causeway Capital raises stake in Wizz Air
Causeway Capital's Increased Investment and Wizz Air's Recent Developments
Causeway Capital Boosts Stake in Wizz Air
March 6 (Reuters) - Causeway Capital Management has increased its stake in Wizz Air to 5.04%, a regulatory filing showed on Friday, positioning the U.S.-based investor among the top shareholders of the European budget carrier.
Causeway, which previously held a 2.04% stake in Wizz Air, had boosted its holding on Wednesday, according to the filing.
Challenges Facing Wizz Air
Impact of Middle East Conflict
Earlier in the week, the carrier had warned the ongoing Middle East conflict would likely dent its net profit for fiscal year 2026 by about 50 million euros ($58.01 million), piling onto pressures from engine-related groundings and softening demand.
Stock Performance
Its shares have been on a steady slide since the conflict began, losing about 24% of its value this week and suffering their worst percentage drop since June last year. The stock closed down 5.1% at a record low of 927.5 pence on Friday.
Causeway Capital's Broader Investment Activity
Response to Reuters Query
Los Angeles-based Causeway said in its response to a Reuters query that it "doesn't comment publicly on the ownership stake in its holdings".
Other Notable Investments
WH Smith Leadership Overhaul
Earlier this year, Causeway, the largest shareholder in Britain's WH Smith, backed the retailer's decision to appoint former Balfour Beatty chief Leo Quinn as executive chair in a leadership overhaul.
Rolls-Royce Board Refresh
In 2021, the investor had urged Rolls-Royce to refresh its board when it was one of the engine-maker's biggest shareholders.
Wizz Air's New Opportunities
Separately on Friday, Wizz Air said it had received permits to operate flights to the U.S. from the UK, opening doors to offer charter flights for European football teams and fans attending the soccer World Cup.
Additional Information
($1 = 0.8619 euros)
(Reporting by Nithyashree R B, Raechel Thankam Job and Sri Hari N S in Bengaluru; Editing by Shilpi Majumdar and Krishna Chandra Eluri)
