Wizzair-2

[LTNman]

Are we talking about Wizz UK or Wizz Hungary’s UK operation or both? I think Luton still has more Wizz flights than any other airport so it would be logical that demand should start to fall with us leaving the EU regardless of the impact of the post virus world.

[iandy912i]

Originally Posted by LTNman

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.

32 older planes will be returned to lease company, 12 new deliveries this year. So actually they are reducing the fleet by 16%. Almost fifth

[LTNman]

That's 32 planes over 3 years. With 268 outstanding orders I would think some of those orders will arrive before the end of 2023 as the final delivery dates are 2026.

[LTNman]

Wizz at LEX

You Tube

[vlieger]

Originally Posted by iandy912i

32 older planes will be returned to lease company, 12 new deliveries this year. So actually they are reducing the fleet by 16%. Almost fifth

9 of those 12 orders they will manage to get out of, is the word on the street...

[vlieger]

Originally Posted by LTNman

Are we talking about Wizz UK or Wizz Hungary’s UK operation or both? I think Luton still has more Wizz flights than any other airport so it would be logical that demand should start to fall with us leaving the EU regardless of the impact of the post virus world.

​​​​​​Wizz UK

[iandy912i]

Originally Posted by vlieger

9 of those 12 orders they will manage to get out of, is the word on the street...

actually 9 of those will be paid for by the airline itself

[LTNman]

So why is the UK taxpayer lending money to a Hungarian airline?
https://www.flightglobal.com/airline...137990.article

[SWBKCB]

Originally Posted by LTNman

So why is the UK taxpayer lending money to a Hungarian airline?
https://www.flightglobal.com/airline...137990.article

Because they meet the criteria? Presumably Wizz UK?

[inOban]

I'm sure I read somewhere that while its main bases are in eastern Europe, it is legally a British company.

[SWBKCB]

Originally Posted by inOban

I'm sure I read somewhere that while its main bases are in eastern Europe, it is legally a British company.

This from Wiki

Its Jersey-based parent company, Wizz Air Holdings plc, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

[ATNotts]

Originally Posted by inOban

I'm sure I read somewhere that while its main bases are in eastern Europe, it is legally a British company.

If Wizz, as opposed to Wizz UK is a British company that could make things a tad awkward come the end of the UK's EU transition out (whenever that turns out to be).

[LTNman]

So if it is Jersey based with a HQ in Budapest they will pay no UK tax yet we will hand over hundreds of millions of £££££

Wizz Air, legally incorporated as Wizz Air Hungary Ltd. (Hungarian: Wizz Air Hungary Légiközlekedési Kft.) and stylised as W!ZZ Air, is a Hungarian[3] low-cost airline with its head office in Budapest.

Its Jersey-based parent company, Wizz Air Holdings plc, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

It is clear someone could see the writing on the wall

The largest shareholder in one of Europe’s largest low-cost airlines has announced that it is selling the majority of its holding.Indigo-Partners, an American Private Equity firm has sold 12.5 million shares of Wizz Air at a 3.5% discount to the closing market price on February 4, according to Reuters.

[pabely]

Last Accounts show business taxes paid in Hungary & Switzerland. Are Wizzair UK employees paid from UK thus UK Tax & NI applies to employees?

[SWBKCB]

Are Wizzair UK employees paid from UK thus UK Tax & NI applies to employees?

As the whole point of Wizz UK was to keep a presence in the UK post Brexit, must have a majority UK ownership to get an AOC?

[LTNman]

So the UK Government has given Wizz UK with is 10 aircraft a line of credit of up to £300 million while giving Easyjet with its large fleet £600 million. I think Wizz has conned the government or the UK government is just stupid as it is clear they are helping to keep all of Wizz going.

[AndrewH52]

The Government isn’t giving Wizzair UK or EasyJet or any U.K. airline a penny. They are guaranteeing loans given by a commercial bank on commercial terms. It only becomes a liability if said airline defaults on repaying that commercial loan.

Balance that with the level of APD that those airlines will have generated for the Treasury over the last 12 months or more. Swings and roundabouts...

[LTNman]

Ok then so why is the UK government guaranteeing loans for a Hungarian airline with its parent company based in Jersey when its largest shareholder, who is American, sold out when it saw the writing on the wall?

[AndrewH52]

Wizzair U.K. Limited
Main Terminal Building
London Luton Airport
Luton
United Kingdom
LU2 9LY

Company Number 10982241

Source: Companies House.

It’s accounts show that U.K. Corporation Tax on (admittedly meagre) profits was paid at the prevailing rate of 19%.

[LTNman]

So you think that none of that £300 million won't end up potentially propping up the Hungarian airline when the UK airline has only 10 aircraft?