Cobas Asset Management, the investment firm led by Francisco García Paramés, has doubled its presence in the capital of Wizz Air, surpassing the threshold of 10% compared to the 5.083% it previously held. This position amounts to 10.37 million shares of the airline, with a market value close to 122.7 million euros at current prices.
The share package is distributed among various funds and vehicles managed by Cobas, such as Cobas Selección, Cobas Internacional, Cobas Grandes Compañías, Cobas Renta, and several sub-funds domiciled in Luxembourg, according to records from "Bloomberg" consulted by Europa Press and reported by "El Economista".
In a newsletter from late 2025, the manager, whose total assets under management at the end of the first half amounted to 4.674 billion euros, emphasized that the network of routes of the Hungarian low-cost airline, especially in secondary or less saturated markets, allows "to connect many destinations with less direct competition".
It also highlighted the cost advantage of Wizz Air over other operators, supported by a "relatively modern" fleet and its investments in more fuel-efficient aircraft, which, in its view, strengthens its competitive position.
The firm also emphasized its "growth potential" in Eastern European countries where there is still unmet air demand, as well as the ability to continue entering new secondary airports or regions with low presence of other companies.
The reinforcement of Cobas Asset Management's participation coincides with a phase of expansion for Wizz Air in the Spanish market, with the opening of new operational bases in Madrid, Valencia, and Santiago de Compostela for the upcoming winter season, as well as the launch of new routes both domestic and international from several of the main airports in the country.
During this summer, the Hungarian airline has reached historic figures by moving 3.8 million travelers on flights with origin or destination in Spain during the summer season, a volume 51% higher than that recorded in the same period of 2025.
In financial terms, the start of the fiscal year 2027 has resulted in losses in the first quarter, which amounted to 198.2 million euros, compared to the profit of 38.4 million euros recorded a year earlier. This setback is attributed to the sharp increase in fuel prices due to the conflict in the Middle East and changes in customer booking patterns.
On the revenue side, the company billed 5.5% more in those first three months, reaching 1,507.4 million euros. Additionally, it expects a gradual recovery of its fleet, with the aim of reducing the number of grounded aircraft from 27 to between 15 and 20 due to inspections of the Pratt & Whitney GTF engines before the end of the fiscal year.
New goals for "sustainable profitability"
After a day with institutional investors and analysts held in London, Wizz Air detailed its medium-term strategic priorities until the fiscal year 2030, focused on optimizing the network and actively managing the cost structure with the aim of achieving "sustainable profitability".
Among the goals presented, the airline aims to achieve revenues of 10 billion euros and an EBIT margin of 10% by the end of the decade, operate a fleet entirely of new generation consisting of 335 aircraft, and transport 127 million passengers, with "sustainable and industry-leading margins".
"Our next chapter consists of transforming that structural advantage into increasingly greater profitability, focusing growth on key and expanding markets, recovering fleet productivity, consolidating our network, and acting with discipline," said the CEO, József Váradi.