Wizz Air Holdings PLC Order for 146 Airbus A320neo Family Aircraft (5440W)

TIDMWIZZ

RNS Number : 5440W

Wizz Air Holdings PLC

15 November 2017

WIZZ AIR ANNOUNCES ORDER FOR 146 AIRBUS A320neo FAMILY AIRCRAFT

Provides fleet renewal and expansion to capitalize on growth opportunity and drive unit costs even lower

DUBAI, 15 November 2017: Wizz Air Holdings Plc ("Wizz Air" or "the Company"), the largest low-cost airline in Central and Eastern Europe, announced today that, following a competitive selection process, it has signed a memorandum of understanding with Airbus S.A.S. ("Airbus") relating to the purchase of a further 146 Airbus A320neo family aircraft (72 A320neo and 74 A321neo). While deliveries will start in 2022, the bulk of the aircraft will be delivered in 2025 and 2026, following on from the delivery of the 110 Airbus A321neo aircraft ordered by Wizz Air in 2015. Under the memorandum of understanding Wizz Air has the right to substitute a number of the A320neo aircraft with the Airbus A321neo and vice versa, depending on its future requirements.

At current list prices, these additional aircraft are worth in excess of US$17.2 billion although discounts will be granted by Airbus. Completion of the order remains subject to approval by Wizz Air shareholders.

"Once again, Airbus has delivered the best overall mix of aircraft, cost efficiency, support and price. We are convinced that the Airbus A320neo and A321neo will be game-changer aircraft for Wizz Air, as we continue to grow at an industry-leading rate and expand our market reach across and beyond Europe," said József Váradi, Wizz Air's chief executive officer. "The next-step technology aircraft will enable us to continue to lower our operating costs as we drive towards our goal of Wizz Air being the lowest fare and lowest unit cost airline in Europe. Wizz Air will continue to stimulate demand for air travel in CEE and beyond by offering the lowest fares to our customers, while still delivering a great customer experience on-board one of the youngest fleets in Europe".

This new order, if approved by Wizz Air's shareholders, would bring Wizz Air's outstanding orders with Airbus to 282 aircraft, including also 8 Airbus A320ceo and 18 Airbus A321ceo aircraft, deliveries of which will continue to early 2019, and 110 Airbus A321neo aircraft, deliveries of which are planned to start in 2019 and continue through to the end of 2024.

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About Wizz Air

Wizz Air is the largest low-cost airline in Central and Eastern Europe, operates a fleet of 87 Airbus A320 and Airbus A321 aircraft, and offers more than 550 routes from 28 bases, connecting 144 destinations across 43 countries. At Wizz Air, a team of approximately 3,500 aviation professionals delivers superior service and very low ticket prices making Wizz Air the preferred choice of 23.8 million passengers in the financial year ended 31 March 2017. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ and is included in the FTSE 250 and FTSE All-Share Indices. Wizz Air is registered under the International Air Transport Association (IATA), Operational Safety Audit (IOSA), the global benchmark in airline safety recognition. The company was recently named 2016 Value Airline of the Year by the editors of Air Transport World, one of the leading airline trade magazines, as well as 2016 Low Cost Airline of the Year by the Centre for Aviation (CAPA), a leading provider of independent aviation market intelligence.

 
 For more information: 
 
 Investors:    Balint Veres, Wizz Air:              [phone] 
 
 Media:        Sorina Ratz, Wizz Air:               [phone] 
  Edward Bridges / Jonathan Neilan,                 [phone] 
   FTI Consulting LLP:                               1017 
 

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This information is provided by RNS

The company news service from the London Stock Exchange

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November 15, 2017 02:20 ET (07:20 GMT)