US-based investor Causeway Capital raises stake in Wizz Air

March 6 (Reuters) - Causeway Capital Management has increased its stake in Wizz Air WIZZ.L 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.

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.

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.

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".

Earlier this year, Causeway, the largest shareholder in Britain's WH Smith SMWH.L, backed the retailer's decision to appoint former Balfour Beatty chief Leo Quinn as executive chair in a leadership overhaul.

In 2021, the investor had urged Rolls-Royce RR.L to refresh its board when it was one of the engine-maker's biggest shareholders.

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.

($1 = 0.8619 euros)