Pre-Close Trading Update

RNS Number : 5218I

Wizz Air Holdings PLC

26 March 2015

 

26 March 2015

Wizz Air Holdings Plc

Pre-close trading update

Following its successful initial public offering at the start of this month, Wizz Air Holdings Plc ("Wizz Air" and, together with its subsidiaries, the "Group"), the largest low cost carrier in Central and Eastern Europe, today provides a trading update for the fourth quarter and year ending 31 March 2015.

Wizz Air confirms that the Group has traded well through the fourth quarter and that its revenue and profit performance for the year ending 31 March 2015 is forecast to be in-line with the Board's expectations.  Wizz Air is expected to report its preliminary results for the year ending 31 March 2015 on 27 May 2015.

Separately today, Wizz Air announced that it will be further restructuring the Group's operations in Ukraine, following earlier capacity reductions in 2014.  Wizz Air Hungary will establish an operating base in Kiev with one Airbus A320 aircraft.  The base will initially operate eight routes and Wizz Air hopes to develop its network further as the local economic and geopolitical conditions improve.  The second Airbus A320 aircraft currently based in Kiev will be redeployed to the Group's new operating base in Kosice, Slovakia, and will operate new routes from Kosice to Milan Bergamo and Sheffield-Doncaster in early June 2015.

The Group's Ukrainian subsidiary, Wizz Air Ukraine Airlines LLC ("Wizz Air Ukraine"), will discontinue operations, but the Group stands ready for expansion as and when market conditions improve.  The restructuring of the Group's Ukrainian operations and the closure of Wizz Air Ukraine will not have a material effect on the Group's trading in the current year and subsequent financial years.

Ends

About Wizz Air

Wizz Air is the largest low-cost airline in Central and Eastern Europe^*, operates a fleet of 55 Airbus A320 aircraft and offers over 360 routes from 20 bases, connecting 110 destinations across 37 countries. At Wizz Air, a team of approximately 2,200 aviation professionals delivers superior service and very low ticket prices making Wizz Air the preferred choice of 15.8 million passengers in 2014. Wizz Air is listed on the London Stock Exchange under the ticker: WIZZ

*Source: Innovata, on the basis of scheduled departing seat capacity for the period 1 April 2014 until 30 Sep 2014, inclusive. Central and Eastern Europe (CEE) is a region comprised of Albania, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania  Macedonia, Moldova, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia and Ukraine.

For more information:

Iain Wetherall; Wizz Air Group; [phone]

Edward Bridges / Jonathan Neilan; FTI Consulting; [phone]

 

END

 

 

TSTUNVNRVVAOURR