Aviation Business News

“We are in a very challenging set of circumstances” – Wizz Air’s Váradi on Q3 results

Wizz Air CEO Váradi József
photo_camera Wizz CEO József Váradi (PIC: Wizz Air)

Wizz Air has published its Q3 results for FY24.

Highlights include an increase in capacity of 27% compared with the same period in the previous year and record traffic of 15.1m passengers, compared with 12.4m in the previous year’s period.

However, revenue per available seat kilometre (RASK) was down by 8% on the same period the previous year, which the airline said was due to lower loads and the suspension of Israel capacity. The report also noted that 13 aircraft were grounded at the end of December due to GTF issues, although compensation had been paid by the OEM.

READ: Ryanair and Wizz to resume Israel flights

Answering a question on the subjects of engine problems and  BBC radio soon after the results were published this morning (25 January), Wizz Air’s CEO József -said: “We are in a very challenging set of circumstances, affected by geopolitical events as well as supply chain issues, certainly over the last few years we have become a lot more resilient as an airline”.

“We have learnt how to act on issues like this to reallocate capacity and to be adaptive and flexible, as a result, as you can see, we are able to grow the business”.

READ: P&W engine inspections cause Wizz Air to cut flights

The report highlighted that ancillary revenues are almost on a par with base fares, something that the BBC reporter found ‘extraordinary’, questioning if people were being overcharged, or were unsure of what they are signing up for when they take extra services.  József countered: “Simply, what we do is offer bundles. You pay very little for your base fare, and whatever you consume, you just pay for. Overall, we charge about a third of what legacy airlines are offering”.

 

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