Ryanair Holdings PLC (LSE:RYA) and Wizz Air Holdings PLC (AIM:WIZZ) have announced a dip in passengers in October as the outbreak of war between Israel and Hamas prompted flight cancellations.
Ryanair carried 17.1 million passengers throughout the month, which was an increase on 2022, but down on September’s 17.4 million.
Wizz Air’s monthly passengers slipped from 5.5 million to 5.4 million between September and October meanwhile, with its load factor similar to Ryanair’s at around 93%.
The Irish carrier had cancelled 870 flights as a result of the Israel-Hamas conflict, while Wizz Air has suspended operations in Israel until mid-November.
Liberum analysts suggested that the reductions could hint to the beginning of a wider slowdown in the aviation sector, after a rapid post-Covid recovery this year.
“Although slight, this was the first fall in load factor since the recovery from the pandemic began,” analysts commented on Ryanair’s update, with the figure having fallen from 96% to 93%.
“There is a sense that load factors have plateaued,” the bank added.
Investors still seemed convinced by the figures though, with Ryanair and Wizz rising 2.4% and 6.6% respectively.