RYAAY - Wizz Air looks looks to bolster fleet add routes to Middle East
2023-03-21 11:35:12 ET
Hungarian budget airline Wizz Air ( OTCPK:WZZAF ) is eyeing opportunities in the Middle East, according to top executives.
Management indicated in a press conference on Tuesday that it plans to add hundreds of aircraft through the close of the decade, bringing its total aircraft count to over 500 by 2030. The larger fleet is due to service both its European home base and expansion into the Middle East to popular destinations like Dubai and Abu Dhabi.
This is a course of expansion recently rejected by low-cost rival Ryanair ( RYAAY ).
Elsewhere, the airline eschewed suggestions that it might be taken over by a low-cost rival or seek a merger. CEO József Váradi also assured the press that demand remains robust despite macroeconomic uncertainty and high inflation. Hungary is currently seeing the highest inflation rate on the entire continent, soaring to over 26%.
Shares of Wizz Air ( OTCPK:WZZAF ) listed in London ripped over 5% higher on Tuesday.
Read more on the airline’s recent decision to suspend flights over Moldova .
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Wizz Air looks looks to bolster fleet, add routes to Middle East