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Wizz Air

Description of company

Description

 Wizz Air, legally incorporated as Wizz Air Hungary


Ltd. and stylised as W!zz Air, is a Hungarian low-cost
airline with its head office in Budapest. The airline serves
many cities across Europe, as well as some destinations
in North Africa and the Middle East. It has the largest fleet
of any Hungarian airline, although it is not a flag carrier,
and currently serves 44 countries.   As of 2018, the airline
has its largest hub at Budapest Airport with over 60
destinations. In 2017 the airline transported 28.3 million
passengers.

History

 The plan to launch Wizz Air was conceived in June 2003


when six people with a wide range of airline expertise and
successful track records teamed up with József Váradi, the
Company’s Chief Executive Officer. In just three months,
Wizz Air was a registered company ready to fly.

 The first flight took off on the 19th of May 2004 from
Katowice. Today Wizz Air offers over 600 routes from 25
bases.
 Following a decade of solid growth to become Central and
Eastern Europe’s largest low-cost airline, Wizz Air
successfully completed an initial public offering on the
25th of February 2015, and was admitted to the London
Stock Exchange.

Operations
 The current Head office can be found in Laurus offices
Building B, Budapest, since March 2016.
 Wizz Air prefers to land at smaller or secondary airports to
reduce costs and fees. The airline also has a buy on
board service called Wizz Café and a shopping service
called Wizz Boutique.
 Wizz Air achieved its highest ever revenue, net profit and
operating profit in year 2018.
 Net profit increased by 11.8%, to 275 million euro, and the
increase was 22% on an underlying basis if exceptional
gains (mainly related to fuel hedges) are excluded from the
previous year's result. Its underlying net profit margin
(profit as a percentage of revenue) eased back by 14%.
 Revenue grew by 24%, just ahead of capacity growth but
slightly less than passenger growth. Operating profit
increased by 18.4%, to 292million euro, and the operating
margin was shaved by 15%.

Subsidiaries (filiale)
1) Current subsidiaries
 Wizz Air UK was founded on 18 October 2017 as Wizz
Air's UK unit, following CAA approval the subsidiary
commenced operations with 4 registered aircraft initially.
The unit is currently operating flights from and to Luton on
behalf of its Hungarian parent and has been set up to ensure
Wizz Air retains full market access to the United Kingdom
following Brexit.
2) Former subsidiaries
 Wizz Air Bulgaria was Wizz Air's Bulgarian unit set-up in
2005 and based at Sofia Airport with a fleet of 3 aircraft. It
ceased operations on 31 March 2011, all flights merged
back into Wizz Air Hungary Ltd.

 Wizz Air Romania was a planned Romanian unit to be


based at Timișoara Traian Vuia International Airport.
However, this sub-unit never started operations and a base
was established there instead under Wizz Air Hungary Ltd.

 Wizz Air Ukraine founded in 2008 was the Ukrainian unit


of Wizz Air, which had its own air operator's certificate and
operated from Kyiv Zhuliany International
Airport and Lviv International Airport with a fleet of 4
aircraft. As a result of the economical crisis
following Russian military intervention in Ukraine, Wizz
Air Ukraine was terminated on 19 April 2015. Some routes
to and from Kyiv were taken over by Wizz Air Hungary
Ltd while all others ceased at the time, the airline has since
begun to expand once again in Ukraine.

Development of Wizz Air passenger in numbers (million)


and passenger load factor: from year 2005 to year 2018
Future

 In November 2018, it was reported that Wizz Air had


announced plans to reactivate its Wizz Air
Ukraine subsidiary, approximately three years after it was
shut down. Under the plan, Wizz Air Ukraine will seek to
complete certification in 2019 following the acquisition of
twenty A320/321 neo jets. Wizz Air's current fleet
comprises 83 A320 family aircraft (64 A320 and 19
A321). 
 Bases will be developed in Kiev as well as other cities
across the country. By 2025, it aims to have a passenger
throughput of 6 million passengers per annum

Fun fact: did you know that back in 2014, Wizz Air didn’t even
have assigned seats, so it was a free for all once you got on
board? 
Bibliography:
 https://en.wikipedia.org/wiki/Wizz_Air
 https://happytowander.com/wizz-air-review/#comment-
23674
 https://wizzair.com/#/
 https://centreforaviation.com/analysis/reports/wizz-air-
rapid-growth-plan-will-need-to-reverse-margin-squeeze-
419637
 https://www.lufthansa-technik.com/press-releases-
content/-/asset_publisher/9Mf5/content/press-release-wizz-
air-tcs/10165