The Danish pension fund “Akademiker Pension” has divested itself entirely of its stake in the low-cost airline Wizz Air.
A few weeks ago, the shareholder asked some uncomfortable questions and threatened to exit. Now they are doing their job and will sell the shares held. The reason for the decision is as follows: "The behavior of the management is not compatible with human and employee rights, as stipulated, among other things, by the UN Guiding Principles on Business and Human Rights".
Towards the end of the previous year, AkademikerPension asked the management of Wizz Air to recognize works councils and trade unions. 13 other major shareholders have also joined this suggestion. At first, the request was completely ignored, as can be seen from the documents available to Aviation.Direct. After extensive media coverage, the Wizz Air management invited to a meeting.
However, according to AkademikerFonds, the basic attitude has not changed. This ultimately led to the decision to sell the shares. The stake in Wizz Air can no longer be reconciled with its own values. The pension fund is generally regarded as a shareholder who also asks companies unpleasant questions and does not shy away from an exit.
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