This most unpunctual airline is now offering an “All You Can Fly” annual pass with unlimited flights for $550 to attract customers – Wizz Air Holdings (OTC:WZZZY)

In a bold move, the European low-cost airline Wizz Air WZZZY has introduced an annual subscription card that offers unlimited flights for $550.

What happened: The “All you can fly” pass is available at this introductory price until Friday, after which the price will rise to 599 euros. With the pass, passengers can book round-trip flights to all Wizz Air international destinations up to three days before departure. The booking window is set to open in September, CNBC reported on Thursday.

There is an additional flat fee of 9.99 euros (11 US dollars) for each booking. Additional fees apply for each piece of baggage that is more than a personal item. The airline intends to offer 10,000 memberships initially, with seat availability dependent on several factors.

This initiative follows similar subscription packages introduced by US carriers such as Border airlineswhich last year announced an unlimited pass for $599 for its North American routes. In Europe, however, this concept is still relatively new.

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Wizz Air’s move comes as the airline struggles with falling profits and declining customer satisfaction as the post-pandemic travel boom increases pressure on the sector. The Hungarian carrier reported a 44% drop in its first-quarter operating profit earlier this month.

Why it is important: Wizz Air’s launch of the pass comes after the company ranked as the most punctual airline in the UK for the third year in a row, according to data from the Civil Aviation Authority.

Air travel worldwide has been hit by efforts to reduce carbon emissions, leading to higher ticket prices to cover costs. The price of sustainable aviation fuel, which is crucial to meeting the industry’s goal of net-zero emissions by 2050, is more than double that of conventional jet fuel. As a result, airlines have had to pass the additional costs on to passengers.

In the United States, domestic air traffic reached a record high in the first half of 2024, with airlines reporting significant operational improvements.

However, European airlines such as Wizz Air are facing challenges, including the ban on short-term rentals in popular holiday destinations.

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Image by Oyoyoy via Wikimedia Commons

This story was created with Benzinga Neuro and edited by Pooja Rajkumari