Wizzair-2
Wizz Air’s largest shareholder, U.S.-based private equity firm Indigo Partners, carried out a long-time plan to cut its stake in the company as the Budapest-based low-cost airline works to comply with European Union ownership rules.
Indigo cut its stake to 3.4% from 20.6%, according to the bookrunner on Tuesday. Airlines must be more than 50% owned by European Economic Area nationals to operate flights within the bloc, otherwise the rights of non-EEA shareholders have to be restricted to allow operations to continue.
Wizz, which is focused on central and eastern Europe, said in April last year it was seeking more EU investors in order to comply with EU share-ownership rules or it could lose the right to fly within the bloc after Brexit.
Indigo cut its stake to 3.4% from 20.6%, according to the bookrunner on Tuesday. Airlines must be more than 50% owned by European Economic Area nationals to operate flights within the bloc, otherwise the rights of non-EEA shareholders have to be restricted to allow operations to continue.
Wizz, which is focused on central and eastern Europe, said in April last year it was seeking more EU investors in order to comply with EU share-ownership rules or it could lose the right to fly within the bloc after Brexit.
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End of subsidies (see Frankfurt), try and error (some not performing routes with low frequency of 2 weekly flights come and go), shift to new markets & new possibilities (new slots at ORY with new flights from BUD and WAW or short notice entrance of Albania-Italy market due to insolvency of Ernest -> other routes need to be closed to free up aircraft for those routes)
In general a lot of new/additional aircraft will join the fleet in the next year and Wizz is growing overall from operational and finacial point of view.
In general a lot of new/additional aircraft will join the fleet in the next year and Wizz is growing overall from operational and finacial point of view.
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Interesting interview on CNN a couple of days ago by Richard Quest with Josef Varadi saying that he sees opportunities to expand and is not cancelling orders for new àircraft and still operating five per cent of there schedule as well as repatriation and cargo flights for the Hungarian government. The interview is available on YouTube.
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Wizz Air to Cut 1000 Jobs and Pay Cuts Across the Business
Brunel to Concorde
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Last edited by stewyb; 14th Apr 2020 at 14:59.
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It will return 32 older leased aircraft by March 2023 as contracts expire.
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They might be getting rid of one fifth of their workforce but they won't be getting rid of one fifth of their fleet with those new deliveries. This is more about being leaner and giving them a more competitive edge.