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Wizz Air

Wizz Air
IATA
W6		 ICAO
WZZ		 Callsign
WIZZ AIR
Founded 2003
Bases
Fleet size 28 (+ 104 orders)
Destinations 58
Headquarters Vecsés, Hungary
Key people József Váradi (CEO)
Christopher Collins (COO)
Website http://www.wizzair.com/

Wizz Air Hungary Légiközlekedési Kft. is a Hungarian[1][2] low-cost airline with headquarters in the Airport Business Park C2 in Vecsés, close to Budapest's Ferihegy Airport, Hungary.[3] The airline typically uses secondary airports serving many cities across Europe.

Contents

History

The airline was established in September 2003. The lead investor is Indigo Partners, an American private equity firm [4] specializing in transportation investments. The first flight was made on 19 May 2004 from Katowice, 19 days after Poland and Hungary entered the European Union and the single European aviation market. The airline carried 250,000 passengers in its first three and a half months, almost 1.4 million passengers in the first year of operations and to date,10 million passengers. In 2007 Wizz Air carried 2.8 million passengers on its Polish routes.

The airline's CEO and chairman is József Váradi, former CEO of Malév Hungarian Airlines. The company is registered in Pest County (Hungary)[5] with operating subsidiaries in Poland, Hungary and Bulgaria. Wizz Air Bulgaria was established in September 2005[6].

József Váradi, Chief Executive Officer of Wizz Air, won the Ernst & Young award of the 'Brave Innovator' in 2007. The prize recognized the break through in the airline business in Hungary and the region, the business model and the business conduct of Wizz Air.[citation needed]

In summer 2008 Wizz Air became the first low cost carrier in Ukraine.[citation needed]

Financial Performance

While attempting to hasten SkyEurope's demise in June 2009, Wizz Air claimed it has been "profitable for several years".[7] However, as a private company it is not required to publish its financial accounts. In November 2009, it emerged Wizz Air is significantly loss making and has never made a profit while delaying the pay back of 32 million of debt by five years.[8] Losses since commencing operations total 78 million.[9]

After the collapse of Flyglobespan in December 2009, Wizz Air was rated the European airline most likely to next go bust. This was according to a firm of bookmakers.[10]

Services/destinations

Further information: Wizz Air destinations

Like Ryanair, Wizz Air prefers to land at smaller or secondary airports to reduce costs and fees.

Wizz Air started new services between Katowice and London Gatwick in 2008[11]. Winter destinations from Warsaw are Milan Bergamo and Grenoble. In January 2008, flights started from Gdansk to Goteborg, Bournemouth and Coventry.

In summer 2008, Wizz Air restarted the summer only services from Katowice and Budapest to Girona, as well as a new weekly service to Girona from Gdask. Other summer services from Budapest are Heraklion, Corfu, Burgas and Varna, from Katowice to Crete-Heraklion and Burgas, Warsaw to Corfu and Burgas. They also restarted the three-times weekly service from London Luton to Burgas.

On 2 October 2008, Wizz Air announced that a number of their Romania services would have increased frequency following an order for three Airbus A320 aircraft[12]. Services began 15 February 2009 from Timisoara, on 1 March 2009 from Bucharest, and 1 May 2009 from Cluj-Napoca.

Wizz Air Romania

Further information: Wizz Air Romania destinations

Wizz Air Ukraine

Wizz Air Bulgaria

From May 22 2010 start flights from Sofia to Madrid/Barajas, Paris/Beauvais, Bologna/Forli, Frankfurt/Hahn.

Wizz Air has 1 international base at Sofia

Further information: Wizz Air Bulgaria destinations


Service quality

According to customer reviews, Wizz Air is a 2 star airline, which makes it comparable to, for example, Ryanair, bmibaby, S7 Airlines and Aerosvit Airlines. [13][14] Calls to customer service cost around 0.65 GBP per minute, according to Wizz Air's own homepage.[15] Wizz Air also announces that it takes more than 30 days to process customer complaint mails[15]Available statistics show that 77 out of 100 flights were in time, 23 were late or cancelled (eight were late, three very late, four excessively late, six cancelled).[16]

Fleet

The Wizz Air fleet consists of the following aircraft (as of 27 December 2009):[17]

Aircraft Total Orders Passengers
Airbus A320-200 28 104 180

Twenty two aircraft operate under Wizz Air Hungary (a further two for Wizz Air Bulgaria and two for Wizz Air Ukraine). It has firm orders for 80 Airbus A320s. [18] All its A320s are powered by International Aero Engines V2500 engines, including those to be leased from GECAS. The 99.5% technical dispatch reliability is well above the world average.[citation needed] Maintenance is by the Lufthansa Technik maintenance organization. [19]

On 10 October 2007, Wizz Air confirmed an order for a further 50 Airbus A320 aircraft bringing its total commitments of that type up to 80 and an option for further 25 A320s.[20]

During the 2009 Paris Air Show, Wizz Air signed a letter of intent with Airbus to purchase 50 shorthaul aircraft (possibly the A320) at a price of $3.8 billion.

External links

References

  1. ^ "Hungarian Wizz Air Opens Fifth Hub in Poland". Business Week. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=9263282. Retrieved 2008-03-20. 
  2. ^ "Fliers reap benefits in Eastern Europe". International Herald Tribune. http://www.iht.com/articles/2004/08/23/eeair_ed3_.php. Retrieved 2008-03-20. 
  3. ^ "company overview." Wizz Air. Retrieved on 25 October 2009.
  4. ^ Ryanair meets Wizz Air: does a merger make sense?Retrieved on 2009-07-28
  5. ^ Company information, official registration number 13-09-096209 Retrieved on 2009-02-16
  6. ^ Airliner World, January 2007.
  7. ^ While SkyEurope is sinking, Wizz Air is stretching wingsRetrieved on 2009-12-01
  8. ^ http://translate.google.ie/translate?hl=en&ie=UTF-8&sl=sk&tl=en&u=http://ekonomika.sme.sk/c/5126583/madarsky-wizz-air-skoncil-v-desatmilionovej-strate.html
  9. ^ WizzAir suffers 9.5 million in losses Retrieved on 2009-12-01
  10. ^ "Paddy Power Airline betting takes off again". Live Odds and Scores. http://www.liveoddsandscores.com/news/press-releases/423733/paddy-power-airline-betting-takes-off-again. Retrieved 2009-12-18. 
  11. ^ "Wizz Air launches London Gatwick Katowice flight". 2007-08-09. http://wizzair.com/about_us/news/#pgf8573. Retrieved 2008-05-05. 
  12. ^ "Wizz Air adds three new A320 aircraft and doubles capacity in Romania - 15 new routes in the next six months". http://wizzair.com/about_us/news/#jk98judt1/. 
  13. ^ "Airlinequality.com about Wizz Air". Skytrack Research. http://www.airlinequality.com/Forum/wizz.htm. Retrieved 2009-04-08. 
  14. ^ "Airlinequality.com 2 star list". Skytrack Research. http://www.airlinequality.com/StarRanking/2star.htm. Retrieved 2009-04-08. 
  15. ^ a b "Wizz Air". Wizz Air. http://wizzair.com/about_us/contact_us/. Retrieved 2009-04-08. 
  16. ^ "FlightStats about Wizz Air". FlightStats. http://www.flightstats.com/go/FlightRating/flightRatingByCarrier.do?airline=(W6)+Wizzair&x=19&y=7. Retrieved 2009-04-08. 
  17. ^ Wizz Air fleet list at ch-aviation.ch. Retrieved 2009-12-27.
  18. ^ Airbus orders
  19. ^ Wizz Air Sale and Lease Back with GECAS
  20. ^ "Wizz Air orders 50 more Airbus A320s" Fligt Global, 10/10/2007
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