Wizz Air has signed an agreement with Airbus for the purchase of 196 Airbus A321neo family aircraft.

The bulk of the fleet will be delivered to the low cost European airline between 2025 and 2027. Under the agreement, Wizz Air may acquire up to a further 19 A321neo aircraft.

The airline has also been granted 75 A321neo purchase rights for delivery between 2028 and 2029 – with a firm order expected by the end of 2022.

Wizz Air’s chief executive officer József Váradi said: “Wizz Air is an ambitious airline with a strategy that seeks to grow the company and will continue to stimulate demand for air travel in Europe and beyond by offering the lowest fares and CO₂ footprint to our customers, while still delivering a great customer experience on-board one of the youngest fleets in Europe.

“Our current average aircraft age stands at 5.1 years, well below the industry average (around 10 years), but with this new order we will see this drop to 3.6 years by 2024, and even further to 3.2 years by 2026.

“Despite strong demand for the aircraft, we have signed very attractive terms with Airbus for the long-term supply of more aircraft until the end of the decade, catapulting Wizz Air towards our aim of being a 500 aircraft group and putting us in an unassailable position when it comes to sustainability.

“This new order, if approved by Wizz Air’s shareholders, would bring Wizz Air’s outstanding orders with Airbus to 429 Airbus A320neo Family aircraft.”

Completion of the order remains subject to approval by Wizz Air shareholders.