Danish pension fund AkademikerPension said today it was selling its stake in budget airline Wizz Air over alleged "human and labour rights abuses" towards its workers.
The $23 billion fund was one of 14 investors that called on Wizz in December to allow employees to form and join trade unions.
It said its research suggested the airline was discouraging the practice in breach of staff rights.
AkademikerPension said that, after meeting management, it saw no sign the airline's practices would change, and so it had begun to divest its holding, worth more than $3 million.
Wizz Air's market value is around $6 billion.
"Wizz Air takes the engagement with its employees very seriously and we are confident that our structures and processes that have been in place to support open and transparent engagement are working extremely well, including our People Council, which provides a forum for employees to discuss important issues," Wizz said.
It also pointed to plans to hire more than 1,000 staff in the coming months and said it had restored the pay of cabin crew and staff to pre-pandemic levels as the industry recovers from the pandemic.
