Last checked at 7 Mar 2022 08:27
Wizz Air Holdings Plc
Ukraine conflict - further update
LSE: WIZZ
Geneva, 7 March 2022: Wizz Air Holdings Plc ("Wizz Air" or the "Company"), the fastest growing and most sustainable airline in Europe, provides a further update on key matters pertaining to the conflict in Ukraine.
Network
Following the outbreak of the war, the Company has taken all flights originating from its Kiev, Lviv and Saint-Petersburg bases off sale. The flights from its Moldovan base have been shifted to Iasi, Romania, through 31 May 2022.
Inbound flying to these and other destinations in Ukraine and Russia are also suspended until further notice, with flights inbound to Moldova shifted to Iasi, Romania up until 31 May 2022.
Our Q1 F23 capacity for the wider network has been adjusted to grow 30% over 2019 and our Q2 F23 capacity is expected to grow 40% over 2019, all measured in ASKs. Our commercial plan maintains a capacity mix of c.65% in our core Central Europe region, c.30% from Western bases and c.5% from Abu Dhabi.
People
All of our Ukrainian organization is supported by an employee and family support scheme and all will be offered new employment within one of our bases. We are also offering new jobs with relocation support for Ukrainians who wish to join us.
Fuel costs
Given the high and volatile commodity environment, the Company has, in agreement with its Board, capped its fuel cost exposure for the next four months with zero cost hedges. As at 7 March 2022 the spot price was 1,300 USD/mT.
March '22 | Q1 F23 | |
Ceiling price | 1,172 USD/mT | 1,142 USD/mT |
Coverage | 50% | 40% |
Assets
The Company continues to await a safe evacuation window for its four Ukraine based aircraft.
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ABOUT WIZZ AIR
Wizz Air, the fastest growing European low-cost airline, operates a fleet of 148 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 10.2 million passengers in the financial year F21 ending 31 March 2021. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service.
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For more information: | ||
Investors: | Zlatko Custovic, Wizz Air | +36 1 777 9407 |
Media: | Christie Rawlings, Wizz Air Edward Bridges / Jonathan Neilan, FTI Consulting LLP: | +36 70 685 1583/+44 78 1115 5205 +44 20 3727 1017 |