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Description of company
Description
History
The first flight took off on the 19th of May 2004 from
Katowice. Today Wizz Air offers over 600 routes from 25
bases.
Following a decade of solid growth to become Central and
Eastern Europe’s largest low-cost airline, Wizz Air
successfully completed an initial public offering on the
25th of February 2015, and was admitted to the London
Stock Exchange.
Operations
The current Head office can be found in Laurus offices
Building B, Budapest, since March 2016.
Wizz Air prefers to land at smaller or secondary airports to
reduce costs and fees. The airline also has a buy on
board service called Wizz Café and a shopping service
called Wizz Boutique.
Wizz Air achieved its highest ever revenue, net profit and
operating profit in year 2018.
Net profit increased by 11.8%, to 275 million euro, and the
increase was 22% on an underlying basis if exceptional
gains (mainly related to fuel hedges) are excluded from the
previous year's result. Its underlying net profit margin
(profit as a percentage of revenue) eased back by 14%.
Revenue grew by 24%, just ahead of capacity growth but
slightly less than passenger growth. Operating profit
increased by 18.4%, to 292million euro, and the operating
margin was shaved by 15%.
Subsidiaries (filiale)
1) Current subsidiaries
Wizz Air UK was founded on 18 October 2017 as Wizz
Air's UK unit, following CAA approval the subsidiary
commenced operations with 4 registered aircraft initially.
The unit is currently operating flights from and to Luton on
behalf of its Hungarian parent and has been set up to ensure
Wizz Air retains full market access to the United Kingdom
following Brexit.
2) Former subsidiaries
Wizz Air Bulgaria was Wizz Air's Bulgarian unit set-up in
2005 and based at Sofia Airport with a fleet of 3 aircraft. It
ceased operations on 31 March 2011, all flights merged
back into Wizz Air Hungary Ltd.
Fun fact: did you know that back in 2014, Wizz Air didn’t even
have assigned seats, so it was a free for all once you got on
board?
Bibliography:
https://en.wikipedia.org/wiki/Wizz_Air
https://happytowander.com/wizz-air-review/#comment-
23674
https://wizzair.com/#/
https://centreforaviation.com/analysis/reports/wizz-air-
rapid-growth-plan-will-need-to-reverse-margin-squeeze-
419637
https://www.lufthansa-technik.com/press-releases-content/-
/asset_publisher/9Mf5/content/press-release-wizz-air-
tcs/10165