LONDON — Travelers in Europe can now take unlimited flights for 499 euros ($550) a year under a new travel subscription service from budget carrier Wizz Air.

The annual “all you can fly” pass, which allows passengers to book one-way and roundtrip flights throughout the year, will be available for the introductory fee until Friday before the price rises to 599 euros.

Details on the airline’s website show passengers can book flights with “no limits” to any of its international destinations — including Athens, Greece, Madrid, Paris and Reykjavik, Iceland — up to three days before departure, with the booking window opening in September.

Each booking is subject to an additional flat fee of 9.99 euros and luggage beyond one personal item will be charged as extra.

The airline said it initially plans to release 10,000 “all you can fly” memberships, while FAQs on its website note that seats will be subject to availability, depending on “several external and internal factors.”

The launch follows similar subscription packages by U.S. carriers, such as Frontier Airlines, which last year announced a $599 unlimited Go Wild! pass for its North America routes.

However, while some European carriers offer multiflight bundles for a set fee, unlimited packages remain a novel concept on the Continent.

It comes as Wizz Air has seen its profits deteriorate and customer satisfaction wane amid wider pressure on the sector following the post-pandemic travel boom.

Earlier this month, the Hungarian airline reported a 44% drop in its first-quarter operating profit. Meantime, a customer satisfaction rating of 44% put it at the bottom of a February ranking of short-haul European carriers by consumer group Which?

CEO Jozsef Varadi told CNBC on the day of releasing its first-quarter results that supply constraints were impacting the company’s short-term outlook while inflationary pressures were weighing on consumer demand.

The airline, which already runs flights to the Maldives, Cairo and Dubai, United Arab Emirates, has previously said it is exploring new routes from Europe to India.