The Paramés manager redoubles its commitment to Wizz Air and gains a 5% stake in Ryanair’s rival

Cobas Asset Management, the management company founded by Francisco García Paramés after his departure from Bestinver, does not want to miss the potential of Ryanair’s great European rival in the ‘low cost’ segment, the Hungarian Wizz Air. Months after incorporating the airline into its portfolio of positions and betting on this asset against the market trend, the manager notifies the British regulator (FCA) of a 5.08% stake in the capital of the holding company listed in London.

At current market prices, The declared position is equivalent to about 56 million euros which place Cobas AM behind the large funds that traditionally control the capital of Wizz Air Holdings led by the American Indigo Partners. It is worth remembering that the shares of the group on which the Hungarian airline depends have devalued by 24% this year after suffering problems with its engine manufacturer Pratt & Whitney, and the Spanish manager frames its entry in its commitment to assets that the market was leaving behind, such as G-III Apparel, the North American textile company that has been diluted by close to 12% on the stock market so far this year. weighed down by Trump’s tariff policy.

“We want to buy good companies when for the wrong reasons no one wants them and they have great potential, and sell them when they are in fashion, as is the case with the defense sector today, and the market reflects its true value. It seems simple, but it requires patience and strictly following a strict investment process, which allows us to maintain conviction when buying, be disciplined when we have to sell and in this way create value for our shareholders,” highlighted the manager’s team in a recent comment.

From Cobas AM they welcome the potential of the airline that they came to classify as ‘company of the month’ in your newsletter of October. The firm highlights to its investors the attractive business model of the airline focused on offering very competitive rates, charging separately for additional services such as luggage or seat selection, which allow it to maintain a cost structure as low as possible.

Likewise, they highlight that its relatively modern fleet, with investments in more fuel-efficient aircraft, give the company a competitive advantage over the rest of the sector. “With all of the above, if it also manages to maintain and improve its cost advantage over competitors in an environment of favorable conditions (such as with cheaper fuel, route rotation, operational optimization…), Your margins could grow significantly” glimpse from the ‘value’ manager.

A sweet moment for your funds

For the firm founded in 2017, this movement coincides with a momentum of record assets under management after exceeding 3,000 million and beat their annual subscription records with 250 million in net inflows. As reported at the end of the first semester, 2025 is leaving “good results” for its funds, while international portfolios have so far shown an average return of 15% and the Iberian portfolio has revalued by 40%.

Among its national teams, stands out Gathered Techniques together with other companies with relevant positions such as Prosegur, Prosegur Cash and Elecnor. Outside Spanish borders, the group focused on the British defense company Babcock Internationalwhich doubled its value in the first half and was removed from its portfolio once its revaluation potential was reduced, as well as in Currys, Academedia either Fresenius.