N) in the United States and Ryanair and Wizz Air Holdings (WIZZ.
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Asked whether Wizz would be interested in Norwegian's slots at London's Gatwick Airport if they become available through any future deal, Varadi said Wizz would consider it.
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While Ryanair Sun will help Ryanair compete with Wizz in eastern Europe, Wizz is likely to face pressure from unions as it moves into Western Europe, Jacobs said.
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With a fleet of Airbus A321neo aircraft, Wizz Air Abu Dhabi will gain access to markets with 5 billion potential customers across Europe and beyond, Wizz Air said in its statement.
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Wizz Air, whose main operations are in central and eastern Europe, said its UK subsidiary Wizz Air UK would be based at London's Luton Airport and fly 8 Airbus A320 and A321 aircraft.
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Keeping staff costs low is essential for Wizz and Ryanair.
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ABU DHABI, Dec 12 (Reuters) - European low-cost airline Wizz Air said on Thursday it plans to launch Wizz Air Abu Dhabi in the second half of 2020, its first carrier outside of Europe.
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Wizz is now launching an assault on Ryanair's western European strongholds.
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Spirit Airlines and Wizz Air also charge for carry-on luggage.
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Wizz, which has operated flights from European cities to Dubai since 21, will create the new airline through a joint venture in which Wizz will have 20.7794% and state-owned Abu Dhabi Development Holding Company PJSC 51%.
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Smaller airline Wizz Air also looks exposed having only hedged 41 percent.
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The poor reading dragged down British Airways-owner IAG , easyJet and Wizz Air.
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One such airline, Wizz, from Hungary, has taken Ryanair's model to an extreme.
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Wizz competes with Lufthansa's Eurowings brand at central European airports such as Vienna.
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"Wizz ... is leaving the rest of its low-cost rivals behind," he said.
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The deal includes aircraft for Wizz Air, Frontier Airlines, Jetsmart and Mexico's Volaris.
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Indigo has stakes in Hungary-based Wizz Air, Mexico's Volaris, and Chile's Jetsmart.
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The poor reading dragged down British Airways owner IAG , easyJet and Wizz Air.
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Other short positions from Citadel included Air France, EasyJet, Wizz Air, and SAS.
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Wizz Air shares has lost ground after cutting flights and further reducing capacity.
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It said Wizz was "erring on the side of caution" for the second half.
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The plane, operated by low-cost carrier Wizz Air, took off from Kutaisi, Georgia.
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It saw in Wizz an opportunity to take the Ryanair model to an extreme.
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Wizz Air said on Wednesday that it had ordered 10 new Airbus A321ceo planes.
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Wizz also got some of collapsed travel firm Thomas Cook's airport slots, he said.
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Wizz Air is similar to Ryanair and EasyJet but often has less name recognition.
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Wizz is listed in London, but the majority of its operations are focused on Europe.
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Rivals Wizz Air and EasyJet sank 2 to 3 percent, while Lufthansa dipped 1.1 percent.
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The huge Airbus order includes A320neos and A321neos for Wizz Air, Frontier, Volaris and JetSmart.
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Váradi, however, said Wizz - powered by Airbus planes - had not really benefited from the groundings.
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Smaller airlines such as easyJet and Wizz Air were also down 3% and 2.5%, respectively.
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The flights are operated by national flag carrier Tarom, Wizz Air, Ryanair and Blue Air.
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The Indigo shareholders own 20.6% of Wizz Air, which mainly flies to central and eastern Europe.
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Wizz reiterated its guidance for full-year net profit to reach 320 million-350 million euros.
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EasyJet, IAG, Wizz and Norwegian have all expressed interest in the slots at the London airports.
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Hungary's Wizz Air said its share of the Indigo order, comprising 146 jets, needed shareholder approval.
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Wizz Air said it expected to start flying the two twice-weekly routes in April 2020.
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Shares in rival budget airlines easyJet and Wizz Air also fell 3.2 percent and 2.8 percent respectively.
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Varadi said Wizz expected to expand flights from Frankfurt in the future, given its attractive customer profile.
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Austrian Airlines flies to Kosicefrom Vienna; Wizz Air from London; Czech Airlines from Prague, Bratislava and Kiev.
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Wizz Air recently began operating flights between Lviv and Berlin for as little as $22 each way.
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Citadel has pared back its shorts on Wizz Air and SAS and collected profits there, filings show.
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Wizz Air, which flies to 44 countries, has operated flights from European cities to Dubai since 2013.
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Ryanair was down 3.7%, those in British Airways owner IAG , Wizz Air, Easyjet fell between 1.9% and 2.7%.
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Here Wizz Air, a rapidly growing Hungarian carrier, trains cabin crew and pilots in evacuating its planes safely.
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Ryanair is not rolling over, but its planned diversification is a sign of how much Wizz has achieved.
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After Monarch went into administration, Wizz said it was interested in acquiring the UK airline's slots at Luton.
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Look at the phenomenal growth of easyJet, Wizz Air, Air Asia, Hong Kong Express, GOL, IndiGo and Jetstar.
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Last month, EasyJet, Lufthansa, and budget carrier Wizz Air submitted expressions of interest in at least parts of Alitalia.
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Wizz Air did not immediately comment when asked if the company had also submitted a revised expression of interest.
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"Exposure to growth and improving cost structure are the two core reasons to be buying Wizz Air," Simpson said.
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Hungary-based Wizz Air said revenue rose 10.1 percent to 921.2 million euros in the six months to Sept.
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Varadi said Wizz had grown 30 percent in London since the Brexit vote and that demand was still robust.
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In 2015, the Hungarian low-cost carrier Wizz Air started flying from Nis to Malmo, Sweden, and Basel, Switzerland.
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In the UAE, a Wizz Air press conference in Abu Dhabi, planned on Tuesday, has been canceled, organizers said.
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"Wizz Air UK is a key part of our Brexit contingency plan...and the natural next step in the development of our UK business, putting us in a strong position to take advantage of opportunities that may arise in what remains Europe's largest travel market," Wizz CEO Jozsef Varadi said on Thursday.
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Wizz said the move would see 100 new jobs added to its base in Luton by the end of 2018.
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A spokesman for Wizz Air declined to comment on the Sky report, while easyJet was not immediately available for comment.
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The Indigo Partners shareholders own 20.6% of Wizz Air, which is worth about 624 million pounds based on Monday's close.
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Even so Wizz Air, a fast-growing Hungarian competitor that uses cheaper eastern European staff, is snapping at its heels.
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Reports last week said easyJet and Wizz Air were in talks to take over some of Monarch's short-haul network.
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Wizz cuts basic fares lower than Ryanair and makes even more back in extra charges on luggage and the like.
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"The ECA and these pilot unions are silent when Lufthansa, Wizz, and Norwegian close bases or cut schedules," he said.
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Wizz Air's CEO also said that it was interested in acquiring airport slots at London Luton from failed airline Monarch.
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But Wizz Air last week raised its full-year capacity growth outlook after a strong start to its financial year.
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Phoenix-based Indigo Partners holds stakes in Frontier Airlines, Spirit Airlines, Hungary-based Wizz Air, Mexico's Volaris, and Chile's Jetsmart.
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Italy's previous government had been looking for new investors, with easyJet, Lufthansa and Wizz Air all submitting expressions of interest.
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The deal is Airbus' largest ever single order and provides aircraft for Wizz Air, Frontier Airlines, Jetsmart and Mexico's Volaris.
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Wizz Air Abu Dhabi will be formed via a joint venture with state-owned Abu Dhabi Development Holding Company PJSC.
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"Wizz shares could double by 2021 - so worth wading into a short-term adverse momentum current," analyst Damian Brewer said.
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Veteran low-cost airline investor Bill Franke is Indigo's managing partner and founder, and is also the chairman of Wizz Air.
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Although London-listed Wizz has been flying from Britain since 2004, until now it had not set up a British base.
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And Wizz said it could benefit as rivals withdraw capacity from the market in the face of a higher fuel price.
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Ryanair's trump card is that its size and established status means its cost of aircraft ownership is lower than for Wizz.
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If Ryanair gives up its cost discipline on staff pay, the airline's executives fear that the likes of Wizz could undercut it.
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With 97 planes in service and 265 on order, Wizz is only going to become more of a headache for Mr O'Leary.
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The planes will be allocated to Hungary's Wizz Air, U.S. carrier Frontier Airlines and Chile's JetSMART, in which Indigo Partners owns stakes.
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IAG's shares were down 21.3% at 1014 GMT, with Wizz Air down 13%, easyJet down 16.9% and Air France-KLM 16.8% lower.
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The jets will be allocated to Hungary's Wizz Air, U.S. carrier Frontier Airlines and Chile's JetSMART, in which Indigo Partners owns stakes.
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He called over the Wizz Air stewardess and called her a &apos&aposstupid, f****** b****... f****** slut&apos&apos and demanded a refund.
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In addition to Frontier, Indigo Partners has invested in Chile-based JetSmart, Mexico's Volaris Airlines and Hungary-based Wizz Air, all discount airlines.
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Wizz Air shares fell 2.2% despite posting net profit Friday of 292 million euros ($325 million) in the 12 months to March 31.
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UTair, a Russian airline, and Wizz Air, a Hungarian one, both set up Ukrainian subsidiaries in recent years, before quickly shutting them down.
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Ryanair, Swiss International Air Lines and Wizz Air fly to 10 destinations from government-operated Nis airport, which served 350,000 passengers last year.
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Varadi added that the upgrading of its fleet from A320s to larger, more efficient A321s would help Wizz improve its strategic cost position.
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Wizz Air's rapid expansion has been helped by its niche in the growing central and eastern European market and its low cost base.
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Jones said that Wizz keeps costs down because of its young fleet, which flies primarily from secondary airports and avoids doing connecting flights.
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The A2321XLR jets will be allocated to Hungary's Wizz Air , U.S. carrier Frontier Airlines and Chile's JetSMART, in which Indigo Partners owns stakes.
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L) has shored up its post-Brexit flying rights after UK authorities granted its British subsidiary Wizz Air an Air Operator's Certificate (AOC).
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Wizz Air could benefit from a cross listing, reaching investors they can't access in London, especially via Hungarian indices or emerging market indices.
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Ryanair's shares were 21% higher at 20.9012 GMT, with fellow budget carriers Easyjet and Wizz Air rising 3.4% and 4.4% in its slipstream.
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The investigations were opened as Ryanair did not apply the required suspension and because Wizz air passengers signaled it had not followed the request.
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IAG peer easyJet also rose 1.9 percent, among the top FTSE 100 gainers, with Wizz Air up 3.3 percent on the mid-cap index.
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Wizz Air shares have hit all-time highs this year, and earlier this month it reported a recorded summer and upgraded its profit outlook.
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Wizz Air reported record profit last month and said it saw few signs of a hit from Britain's decision to leave the European Union.
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Rival airline easyJet also rose 1.7 percent, among the top FTSE 100 gainers, with Wizz Air up 3.3 percent on the mid-cap index.
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Wizz, however, said it was confident in its net profit guidance of 310 million euros ($362 million) to 340 million euros for the year.
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Hungarian low-cost carrier Wizz Air said it was offering to fly stranded Monarch passengers home from Tel Aviv for 119 pounds ($159) each.
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British Airways owner IAG, easyJet, Norwegian and Wizz Air have all expressed interest in acquiring Monarch's slots, especially at London's Gatwick and Luton airports.
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Asked about Wizz's interest in Alitalia, which entered insolvency proceedings last year, Varadi said Wizz had not submitted a bid in a sale process.
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Wizz said net profit in the first quarter was a record 58.1 million euros, an increase of 50.4 percent, with total revenue up 28.6 percent.
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He said Wizz was happy with its Hungarian operating certificate for now and was not currently looking at whether to apply for a British certificate.
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In May Wizz launched a British unit to fly new routes within the region, such as from London to Iceland and to Bari in Italy.
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"London Luton has been a very important part of our story, and it remains so," Owain Jones, chief operating officer at Wizz Air, told Reuters.
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Ryanair, Europe's largest airline by passenger numbers, follows fellow budget airline Wizz Air in applying for a separate licence in Britain via a UK subsidiary.
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Indigo, the private equity firm managed by veteran U.S. low-cost airline investor Bill Franke, has previously made investments in several airlines including Hungary's Wizz .
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IAG's shares were down 20.8933% at 1157 GMT, with Wizz Air down 21.2%, easyJet down 19.5%, Ryanair down 18.8% and Air France-KLM 16.5% lower.
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We meet her charging toward a showdown with her nemesis, Wizz (a marvelously sleazy Jai Courtney), her possession of a heart still to be determined.
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O'Leary said Europe's governments and the EU Commission needed to step in, a sentiment echoed in the statement by Wizz Air's Chief Executive Jozsef Varadi.
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Competitors in eastern Europe, such as Wizz Air of Hungary, have access to cheaper labour and are starting to give Ryanair a run for its money.
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Wizz Air of Hungary, his main ultra-low-cost rival, is now doing a better job of cutting headline fares and recouping the shortfall from surcharges.
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EasyJet's cautious tone brought down shares in British Airways-owner IAG, Wizz Air and the London-listed shares of Ryanair by between 2 and 4.3 percent.
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Wizz Air's update offered some respite to a sector that was pummelled after larger rival easyJet on Monday warned of weakening demand and softer ticket pricing.
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EasyJet's cautious tone brought down shares in British Airways-owner IAG, Wizz Air and the London-listed shares of Ryanair by between 2 and 5.3 percent.
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Expansion by other budget carriers, such as Norwegian Air Shuttle, Wizz Air of Hungary and Vueling of Spain, will add to the downward pressure on fares.
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In 2014 Luton gained approval for expansion of the airport and its runaway to boost capacity and attract budget airlines including Wizz Air and Easy Jet.
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"I don't think that the high fuel price environment is necessarily a structurally bad thing for Wizz Air," CEO Jozsef Varadi told Reuters in an interview.
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|
Easyjet fell 2.8 percent and British Airways-owner IAG shed 1.9 percent on the main bourse, while Wizz Air lost 2.8 percent on the mid-cap index.
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Already the biggest airline in eastern Europe, Wizz has aimed to expand across the entire continent since the start, says Jozsef Varadi, its founder and chief executive.
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In contrast, Wizz said it had added an aircraft to its Vienna operations and deployed extra planes to London Luton and Poland's Krakow in the first quarter.
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PARIS, June 21 (Reuters) - Budget airline Wizz Air has signed a firm order for 10 Airbus A321ceo planes, the companies said at the Paris Airshow on Wednesday.
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The private equity firm sold an 18.7 percent stake in Wizz Air in June and once held stakes in Singapore's Tiger Airways and U.S.-based Spirit Airlines.
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The carrier has faced increasingly stiff competition from low-cost carriers including easyJet, Wizz Air and Ryanair's Laudamotion on short-haul routes out of its base, Vienna.
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Varadi said Wizz had "some work to do" on this issue, as it was not close to being 50 percent owned by EU nationals outside of Britain.
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Ryanair says its staff costs were on par with Wizz before the staffing crisis, at 5 euros per customer flown, but have since grown to 6 euros.
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Ramon, which sits in the majestic red-sand Timna Park, will handle up to 2.1 million passengers a year and airlines including Ryanair, Monarch, Finnair and Wizz.
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Wizz Air shares climbed from £35.32 per share at Monday's open to £35.85 on Tuesday, but pulled back slightly Wednesday amid a wider European market sell-off.
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"We believe the new airline has the potential to be a significant player in the region," Wizz Air Holdings Chief Executive Jozsef Varadi said in a statement.
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Rivals were also caught up in the turbulence, with shares in Ryanair, British Airways owner IAG, Wizz Air, Air France and Easyjet falling by up to 4.4%.
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Sky News reported that easyJet and Wizz Air had bid for parts of Monarch's short-haul network, but the airline said it had no news to announce yet.
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The Times - Wizz Air's largest shareholder private equity firm Indigo Partners said on Monday it was immediately selling most of its 20.6% stake in the Hungarian carrier. bit.
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On the mid-cap index, Wizz Air stumbled despite forecasting net profit growth for the year ahead and saying it was well-placed to tackle higher fuel costs.
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That prompted it to perform a U-turn and be "nicer" to customers, in order to protect its market share from rivals like easyJet, Wizz Air and Norwegian.
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In Poland, the Buzz name bears more than a passing resemblance to Wizz Air, a rival low-cost airline, which is snapping at Ryanair's heels in the country.
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Wizz Air was the worst-performing stock on the FTSE 250 index, down 8.3 percent after the company cut its profit expectations, citing severe weather and low prices.
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The two airlines generally compete on different routes, with Wizz Air focused on Central and Eastern Europe, while easyJet's focus is more towards western Europe and the Mediterranean.
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Eastern European-focused budget airline Wizz Air last week also reiterated its pre-Brexit profit forecast after announcing plans to shift significant capacity away from the UK market.
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Hungarian low-cost airline Wizz Air rose 5.3 percent after saying it was interested in Italy's struggling flag carrier Alitalia but only regarding short and medium-haul routes.
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Scotts Wizz Hand-Held Seed Spreader, available from Amazon for $18.98 For the outdoor mom, help alleviate back strain and increase productivity with this battery-powered seed spreader.
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Low-cost rivals easyJet and Wizz Air have both in recent weeks warned that average fare levels would continue to be under pressure over the key summer period.
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The budget airline Ryanair has added 10 new Eilat routes to its roster, while Hungarian low-cost carrier Wizz Air has tacked on four extra flights per week.
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The comments sent shares in other European airlines down on Monday, continuing falls seen last week, with Lufthansa , Wizz, IAG and easyJet losing between 1 and 3 percent.
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Wizz Air follows Ryanair, which announced four new twice-weekly routes in October, with flights from Yerevan to Milan Bergamo and Rome Ciampino expected to start in January.
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Europe's short-haul carriers have struggled with plunging air fares in recent months with low-cost rivals Wizz and easyJet both trimming their annual profit forecasts in recent weeks.
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But he said Wizz was not at present looking at Munich, where budget carrier Transavia, part of Air France-KLM, has said it would shut its base from October.
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Wizz said profit would rise in the coming year and it expects opportunities to lift market share as competitors withdraw unprofitable capacity in the face of more costly fuel.
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The aviation industry has been in turmoil this year, with Alitalia also entering administration, following intense price competition in Europe due in part to budget operators such as Wizz.
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Franke also uses Airbus for the rest of his growing global empire of investments in discount airlines, such as Mexico's Volaris, Chilean airline JetSmart and Hungary-based Wizz Air.
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LONDON (Reuters) - Wizz Air's chief executive is confident his low-cost carrier can grow in Britain and tackle the challenges presented by Britain's decision to leave the European Union.
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Wizz does not compete with easyJet or Ryanair on busy UK routes to the Mediterranean, but does offer routes from London to fast-growing non-EU destinations like Georgia.
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EasyJet, Brussels Airlines, Eurowings, Transavia France, and Wizz Air UK flights from and to Britain, France, Belgium, the Netherlands, Luxembourg, Switzerland and Germany were cancelled on Saturday and Sunday.
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Flybe's stock plunged after a profit warning last month, underscoring challenges that are also affecting bigger European rivals including Ryanair Holdings Plc Wizz Air Holdings Plc and easyJet Plc.
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The FTSE 2503 rose 0.4 percent, its fourth consecutive session of gains, and midcaps also added 0.3 percent by 0720 GMT, with Wizz Air jumping on an upbeat earnings forecast.
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Two sources familiar with the matter said Wizz would start flying from Frankfurt this summer, with one person saying it would be a single route to the Bulgarian capital Sofia.
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Luton was the destination for Wizz Air's first ever flight in 2004, and the airline said that the base would help to serve its routes from the airport more effectively.
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The rapid rate of route additions is concentrated on low-cost carriers: After Ryanair and easyJet, the airlines that added the most routes were Vueling, Wizz Air, Southwest and Allegiant.
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Eastern European-focused budget airline Wizz Air last week also reiterated its pre-Brexit profit forecast after announcing a similar strategy to shift significant capacity away from the UK market.
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Rivals easyJet and Wizz have ordered A321 planes, which seat up to 239 passengers as they seek to keep costs per seat under control by shifting to slightly bigger planes.
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Wizz Air Holdings climbed 4.8 percent after the low-cost airline forecast full-year profit in the upper half of target range, contrasting with Monday's gloomy update from easyJet PLC.
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British Airways' parent company IAG and budget carriers Ryanair, easyJet and Wizz Air have jointly submitted a complaint to the EU against France over its ongoing air traffic controllers' strikes.
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Airlines including EasyJet (ESYJY), Icelandair, Wizz Air, XL Airways and Norwegian Air were offering reduced fares to stranded travelers because of the difficult circumstances, according to the Icelandic Transport Authority.
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Wizz forecast net profit for the 12 months to March 31, 2019, would come in between 270 and 300 million euros, compared with previous guidance of 310-340 million euros.
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The private equity firm managed by Franke, the veteran U.S. low-cost airline investor, also has made investments in U.S.-based Frontier Airlines, Mexico's Volaris, Chilean carrier JetSmart and Hungary's Wizz.
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That freed up space in the Austrian capital Vienna and has allowed budget airlines easyJet, Lufthansa's low-cost arm Eurowings and Wizz Air to launch or add services in recent months.
|
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The year saw strong performances from other budget carriers, with Norwegian Air Shuttle reporting passenger numbers up 14 percent to 29 million and Wizz Air up 19 percent to 22.7 million.
|
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ROME (Reuters) - An Italian administrative court said on Thursday it had suspended fines imposed on Ryanair and Wizz Air by the country's competition watchdog over the two carriers' hand luggage policies.
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Eastern European-focussed Wizz Air on Monday sent out an invite to a press conference at Frankfurt Airport, to be held on Tuesday morning, to discuss "expansion of its route network".
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"We can say that Wizz management has huge confidence that they can grow the business at this rate and still deliver positive overall RASK," analysts at Goodbody said in a note.
|
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Budget carrier Wizz Air, which said in January it would only be interested in the short haul business, has made the third offer, a source close to the situation told Reuters.
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While Eurowings, which also includes the Germanwings brand, is the largest low cost carrier in Germany, Ryanair , easyJet, and Wizz Air have been growing strongly in the last couple of years.
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Italy's quest to find a buyer for Alitalia's assets has attracted bids from easyJet and Lufthansa and a source told Reuters budget carrier Wizz Air has also put in an offer.
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Eurowings expanded last year as it took over large parts of Air Berlin but is making a loss as it faces tough price competition from Ryanair, easyJet and Wizz in Europe.
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Flying rights are currently governed by EU-wide deals and because it is not part of the World Trade Organization, the aviation sector has no natural fallback arrangement to protect flights if there is no deal between Britain and the EU. Wizz Air UK, a subsidiary of Hungary-based Wizz Air, will begin operations in March 2018 if its application to the Civil Aviation Authority for an air operator's certificate (AOC) and operating licence is successful, it said.
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Wizz Air, which is headquartered in Budapest, can continue to fly within the EU once Britain leaves in March 2019, but its flying rights in Britain after that date are less clear.
|
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On news-driven moves, Wizz Air jumped 5 percent on its best day since November after saying annual profit would be in the upper half of its previous range on "robust" demand.
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The umbrella deal is designed to supply aircaft to four airlines in which Franke's Indigo Partners investment company has stakes: U.S.-based Frontier Airlines, Mexico's Volaris, Chilean carrier JetSmart and Hungary's Wizz.
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London-listed Wizz last year bought airport slots which became available through the demise of British airline Monarch and is on the lookout for similar opportunities as consolidation picks up in Europe.
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The preliminary deal, worth up to $50 billion, is designed to supply four airlines in which Franke's Indigo Partners has stakes: Frontier Airlines, Mexico's Volaris, Chilean carrier JetSmart and Hungary's Wizz Air.
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An AOC in Britain could allow Wizz to fly in between UK-only destinations, however it currently operates no such flights and did not indicate that its strategy was now to do so.
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Shares in Wizz rose 5.5% after the central and eastern European-focused carrier said it was confident in reiterating its full-year outlook, in contrast to profit warnings from the likes of Lufthansa.
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Wizz Air's update came in stark contrast to larger rival easyJet, which warned on Monday of weakening demand and softer ticket pricing and sent shares of its peers down in the last session.
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Wizz, which mainly has flights to central and eastern Europe, said net profit for the financial year 2020 would be between 335 million euros to 350 million euros ($369.17 million to $385.70 million).
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Like other airlines, Wizz has clauses in its articles of association which can allow it to remove voting rights from all non-EU shareholders as a last resort to comply with the rules.
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Varadi said Wizz had set up a subsidiary in Britain in a bid to protect flights between the EU and the UK after Brexit, as well as flights from the UK to elsewhere.
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"Wizz Air is confident in its ability to survive even a potential prolonged grounding substantially beyond the current estimates for the impact of COVID-19 in Europe," the company said in a statement.
|
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Wizz Air shares took a U-turn to add 2.4 percent as investors digested a third-quarter report in which the budget airline reported a jump in revenue and stuck to its profit guidance.
|
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LONDON, May 31 (Reuters) - Low cost carrier Wizz Air said it was optimistic for the year ahead and would grow its net profit after delivering full-year results in line with expectations on Friday.
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Wizz, which mainly flies to central and eastern Europe, said on Wednesday net profit for the financial year 21 would be between 20.9074 million euros to 350 million euros ($369.17 million to $385.70 million).
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Rivals including British Airways, easyJet and Wizz have already announced cancellations in the wake of disruption from the outbreak, which emerged in China in late December and has spread to more than 50 countries.
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In the UAE, where number of coronavirus cases has risen to 45, a Wizz Air press conference in Abu Dhabi, planned on Tuesday, has been canceled due to the coronavirus, organizers said on Sunday.
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In the UAE, where number of coronavirus cases has risen to 45, a Wizz Air press conference in Abu Dhabi, planned on Tuesday, has been canceled due to the coronavirus, organisers said on Sunday.
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Twenty of the planes will be allocated to Hungary's Wizz Air , 18 to U.S. carrier Frontier Airlines and 12 to Chile's Jetsmart, the companies announced at a joint news conference at the Paris Airshow.
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"Despite rapidly rising fuel costs, Brexit uncertainty and chronic overcapacity in the sector, Wizz Air was still able to report record financial results for the first half of the year," eToro analyst Adam Vettese, said.
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He added that Wizz, which operates 70 routes flying out of Britain, had seen a lot of inbound tourism to the country despite Brexit jitters, with Britons travelling to Hungary, Poland, Tel Aviv and Cyprus.
|
|
Wizz Air maintained its full-year net profit guidance range of 270 million euros to 300 million euros, but said the exact result would depend on yield pressures and external factors such as Brexit uncertainty.
|
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Further ahead, Wizz is due to receive its first A321neo in early 13 and by the end of its next financial year will operate 12 of the bigger jets that burn 16 percent less fuel.
|
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But Wizz Air, an ultra-low-cost airline from Hungary, carries passengers ten times the distance for a few pounds less on its route from London to Kutaisi in Georgia, a distance of over 2,000 miles.
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He said due to previous management issues and some technical problems, state-owned LOT had not made the most of the fast-growing market for travel demand in eastern Europe, unlike low-cost rival Wizz Air.
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"Part of our rationale for the UK base, the UK airline, is a Brexit contingency, but equally it's a commercial opportunity," Chief Corporate Officer Owain Jones said, saying Britain would remain vital to Wizz after Brexit.
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British Airways owner IAG fell 5.4% on the main index, while mid-cap peers Wizz Air and easyJet shed 4.1% and 5.6% respectively, after Germany's Lufthansa warned of a challenging European market in the near term.
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Shares of mid-cap airlines easyJet and Wizz Air rose 1.5% each after Ryanair's first half profit beat consensus, though the Irish carrier announced a further delay to the start of its Boeing MAX 737 deliveries.
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Europe's short-haul carriers have struggled in recent months with over-capacity and Britain's vote to leave the European Union, with low-cost rivals Wizz and easyJet both trimming their annual profit forecasts in recent weeks.
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Wizz Air said last month it would decrease the frequency of its Romania, Poland, Italy and Israel routes, cutting two-thirds of all flights on affected routes over three weeks between March 11 and April 2.
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Rivals easyJet and Wizz have reported a boost in sales in the same period as the collapse of Britain's Monarch and the entry of Air Berlin as well as Alitalia into administration has helped lift fares.
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In the short term, Wizz said it would mitigate higher fuel prices by reining in costs and reducing second-half capacity growth to 14 percent from a previously planned 18 percent, helping to boost ticket prices.
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Indigo Partners, the private equity firm of veteran low-cost airline investor Bill Franke, agreed on Wednesday to acquire 50 of the new long-range version of Airbus' A321neo jet, 20 of which will go to Wizz.
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BERLIN/FRANKFURT, Feb 13 (Reuters) - The operator of Frankfurt airport, Fraport, is stepping up its drive to attract more low-cost carriers, with budget carrier Wizz Air set to start flights from Germany's largest airport, sources said.
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Low-cost carriers such as easyJet and Ryanair compete fiercely with older airlines such as BA and Air France, and young upstarts such as Norwegian Air Shuttle and Wizz Air of Hungary are muscling into the market.
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Wizz Air said it expected net profit in the range of 320-350 million euros in the current financial year, after posting net profit of 292 million euros ($325 million) in the 12 months to March 31.
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ROME (Reuters) - Departures from Rome's Ciampino airport, which is used by budget airlines Ryanair and Wizz Air, will continue to be blocked on Wednesday after a small fire broke out in the terminal basement, airport authorities said.
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Wizz, which competes with Lufthansa's Eurowings brand at European airports such as Vienna, is performing well in an industry plagued by weaker demand, rising fuel costs, competition, strikes, bankruptcies and the grounding of Boeing's 737 MAX fleet.
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"If there is not an arrangement, then we are going to put contingencies in place, and one of those contingences is that we are looking at establishing Wizz Air as a United Kingdom-licensed airline," Varadi told Reuters.
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Low cost carrier Wizz Air said it was optimistic for the year ahead and would grow its net profit after delivering solid results on Friday, saying it was well-placed to navigate an environment of higher fuel costs.
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SPORTING GOAL Varadi said soccer fans used Wizz to help get to Baku, Azerbaijan, for the all-English Europa League final between London clubs Arsenal and Chelsea on Wednesday, a location criticized for its inaccessibility and poor logistics.
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Budapest-based Wizz Air set up a base in Luton in June - its first in Western Europe - and in October it applied for a UK Air Operator's Certificate, to guard against the uncertainty over a Brexit aviation deal.
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Rival low-cost carriers easyJet, Norwegian, and Wizz are in the midst of record recruitment drives, with pilot hiring in the spotlight after a rostering problem at Ryanair, Europe's largest airline by passenger numbers, left it short-staffed.
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Norwegian Air, IAG-owned British Airways, easyJet, Wizz Air and El Al Israel Airlines were among carriers to axe flights to and from the country, where there have been more than 9,000 virus infections and over 460 deaths.
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SOFIA, March 24 (Reuters) - Wizz Air has suspended all flights to and from Bulgarian city of Varna in an attempt to help curb the spread of the coronavirus, the low-cost carrier said in a statement on Tuesday.
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Hungary-based Wizz, which is focussed on central and eastern Europe, said it had used existing option positions to secure the deal for the A321XLRs, bringing the airline's total of outstanding firm orders for Airbus aircraft to 276 jets.
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Last February, the regulator had fined Ryanair 3 million euros and Wizz Air 1 million euros for misleading consumers with new rules under which only very small bags would be let on board for free, charging passengers for trolleys.
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However, Jones said that while the decision to expand was not linked directly to the fate of Monarch's airport slots at Luton, the availability of space at airports was helping Wizz Air to meet strong demand for its routes.
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And yet, Mr. Josifovski told me, overnight stays and tourism in general in Macedonia were moving at a strong clip, helped along by cheap flights into Skopje on the budget airline Wizz Air and inexpensive travel within the country.
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Hungary-based Wizz, which is focused on central and eastern Europe, said it had used existing option positions to secure the deal for the A321XLRs, bringing the airline's total of outstanding firm orders for Airbus aircraft to 276 jets.
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Norwegian Air, IAG-owned British Airways, Ryanair easyJet, Wizz Air and El Al Israel Airlines were among carriers to axe flights to and from the country, where there have been more than 9,000 virus infections and over 13 deaths.
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A stretch in jail for forgery scarcely dims her ambition; and when she's hounded by debt collectors — and learns that delinquent debt is Buffalo's main industry — she persuades Wizz to give her a desk in his scummy collection agency.
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BRUSSELS, Feb 24 (Reuters) - The European Commission on Monday cleared public support granted by Romania to Timisoara Airport, the country's third largest, and to Wizz Air, saying that the aid complied with EU rules ensuring a level playing field.
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A notable gainer was low-cost airline Wizz Air that jumped nearly 6 percent after saying annual profit would be in the upper half of a range that it previously forecast, thanks to demand in central and eastern European markets.
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Airlines are charting new courses: Ryanair will divert $1 billion of investment in new aeroplanes from Britain towards the rest of the EU, and Wizz, a Hungarian rival, says it will make no more investments in Britain after the winter.
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Monarch and Ryanair, along with rivals like easyJet, Eurowings, Jet2 and Wizz Air, brought service to well-trodden destinations like Paris or the beaches of Portugal, as well as far-flung corners of the Continent like Lappeenranta, Finland, or Varna, Bulgaria.
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If you're flexible, it pays to find the cheapest entry and exit points to Europe and then fill in the gaps overland or with flights on low-cost carriers like Norwegian Air, Ryanair, easyJet, Vueling, Wizz Air, Primera Air and others.
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The moves by airlines may not be enough to stabilize revenue streams, said Bill Franke, longtime airline investor and managing partner of Indigo Partners, which owns a stable of discount airlines including Frontier Airlines, Hungary's Wizz Air and Mexico's Volaris.
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Budapest-based Wizz Air, one of the largest low-cost airlines in Central and Eastern Europe, said its new carrier aims to offer flights from Europe to the Middle East, and longer term to the Indian subcontinent and Africa as well.
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LONDON, March 4 (Reuters) - Wizz Air has cut some flights, mainly to Italy, from March 11 and could further reduce capacity by about 10% in its next quarter after demand was affected by the coronavirus outbreak, it said on Wednesday.
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Wizz, which operates a fleet of 113 Airbus A320 and Airbus A321, would not need to change its operating model to accommodate the new A321XLR jets, Varadi said, as it would be able to fly essentially the same planes a little longer.
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"Based on current list prices, the value of the new order, placed with Airbus S.A.S. and IAE International Aero Engines AG, is some $1.16 billion, although Airbus has granted significant discounts from list prices to Wizz Air," the airline said in a statement.
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Notable among stocks gaining ground was low-cost airline Wizz Air, which jumped 4 percent - its biggest daily rise in three months - after saying annual profit would be in the upper half of a range that it previously forecast on "robust" demand.
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LONDON, Jan 30 (Reuters) - Budget airline Wizz Air's British subsidiary has been granted a UK route licence to enable it to carry on flying to non-EU destinations from Britain regardless of the outcome of Brexit negotiations, the airline said on Wednesday.
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LE BOURGET, France (Reuters) - Wizz Air will use 20 new extended-range, narrow body Airbus jets primarily to connect existing destinations in its disparate network rather than to fly to new places, the budget airline's Chief Executive Jozsef Varadi said on Wednesday.
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U.S. Vice President Mike Pence said the United States was screening all travelers coming on direct flights from Italy (as well as South Korea) and Hungarian carrier Wizz Air was the latest airline to cut some flights, mainly to Italy, from March 11.
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LE BOURGET, France, June 3213 (Reuters) - Wizz Air will use 20 new extended-range, narrow body Airbus jets primarily to connect existing destinations in its disparate network rather than to fly to new places, the budget airline's Chief Executive Jozsef Varadi said on Wednesday.
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EasyJet gave up 3 percent while mid-cap peer Wizz Air fell 2.6 percent after Davy Research said low-cost carriers would be cautious on their second-half outlooks due to uncertainty over Brexit, higher fuel prices and MAX issues for those using Boeing's fleet.
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LONDON, April 2 (Reuters) - Low-cost airline Wizz Air said its net profit for the year to end-March would be in the upper half of its 270-300 million euros ($303-336 million) guidance, reflecting robust demand across its central and eastern European markets.
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Insiders say talks can and often do drag through the night, with barely time to change before a morning press conference, such as a $14 billion deal with Wizz Air over ordered-in pizza that stole the last Paris Airshow from Boeing in 2015.
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Fraport, which has signed up Ryanair and Wizz Air as new low-cost customers, had said in May it was planning a new pier for low-cost flights that would be part of a new Terminal 3 but would open before the rest of the terminal.
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As well as offering new routes from Luton, Wizz said on Monday that it would increase its frequency on routes from Luton to Israel, Romania and Kosovo, which are seeing strong demand, and would allocate four more planes to its fleet at Luton by June 2018.
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Indigo Partners, a U.S. private equity fund that focuses on the air transportation sector, is to split the A321XLR order with 18 jets for Frontier Airlines in the U.S., 12 for JetSMART in Chile, and 20 going to to Wizz Air which operates out of Hungary.
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Hooper, who is also on the board of airline Wizz Air and Uber UK, was speaking at the World Travel Market trade show in London when she was asked how companies should be preparing ahead of Britain's departure from the EU on March 29, next year.
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Jozsef Varadi told Reuters on Tuesday that Wizz still had work to do to meet EU rules after Brexit but said it was time for Britain to "just get it done and move beyond Brexit" as the deadline for the country's departure has been pushed back.
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SOFIA, March 19 (Reuters) - Wizz Air has suspended all flights to and from Malta until April 10 as a result of the travel restrictions imposed by the Mediterranean island in an attempt to beat Europe's worst outbreak of coronavirus, the low-cost carrier said on Thursday.
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This article originally appeared on Noisey UK. For over a century this mythology has been attracting people to the place, seducing them into boarding cramped Wizz Air flights (or the pre-plane equivalent) across the continent to chase the promise of bony turrets, charcoal mountaintops and full moons.
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Such decisions would have to await clarity on future traffic rights between Britain and the EU. Wizz Air also announced two new routes from Frankfurt airport this week, meaning more low-cost competition for German carrier Lufthansa at its home base after Ryanair announced a deal to start flights this summer.
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He predicts that more mid-sized carriers will be swallowed by them over the next five years: Norwegian and TAP Air Portugal could be bought by IAG; Lufthansa is eyeing Hungary's Wizz Air; Alitalia, Italy's perpetually failing flag carrier, could merge with its stronger joint-venture partner, Air France-KLM.
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In Tbilisi, Georgia's capital city, plenty of Middle Eastern and Turkish low-cost carriers serve the main airport, but none from the EU. Most low-cost traffic is instead funnelled into the smaller city of Kutaisi, where Wizz Air sells one-way fares of £23.99 ($31.19) for a five-hour flight to London.
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DUBLIN, July 24 (Reuters) - Ryanair, Easyjet Wizz Air and IAG submitted complaints to the European Commission against France on Tuesday, arguing that its air traffic controllers' strikes were restricting freedom of movement within the EU. European airlines have faced an increasing threat to profits this year from the cost of flight cancellations associated with air traffic control (ATC) strikes.
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The operator of one of Europe's main centres for eastern European destinations sees net profit reaching at least 165 million euros ($187 million) on revenue of more than 820 million euros this year, thanks to new routes to Canada and Japan and new short-haul and medium-haul destinations served by IAG's Vueling, Wizz Air and Ryanair.
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Shares in European airlines tumbled again on Monday as investor fretted over the effects of the so-called Brexit on travel demand and operating rights, with easyJet and IAG having both warned on profit since the vote Airlines with a heavy UK-focus, including easyJet, Ryanair , IAG and Wizz Air, may have to consider setting up new operating entities to get around any restrictions.
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S. Mnuchin says trade deal with China to boost global economy * UPDATE 3-Former Sudan president Bashir sentenced to two years in detention for corruption * UPDATE 6-Saudi Aramco hits Crown Prince's $2 trillion goal despite valuation doubts * Aramco shares closing price on Thursday put value slightly below $2 trln * Saudis hail 'fortune-telling' prince for Aramco price prediction * Saudi Arabia to launch multi-billion dollar transport projects in 2020 - minister * Europe's Wizz Air to launch Abu Dhabi carrier next year * BRIEF-Kuwait's Al Aman Investment Board Approves Merger With Securities House * BRIEF-Kuwait's Boubyan Petrochemical Sells Entire Shareholding In Saudi Aramco * Qatar Petroleum CEO says on track to expand gas production to 110 mln T by 2024 * Qatar open to accepting all currencies in LNG trade - Emadi * CORRECTED-UPDATE 1-Qatar sees 'small progress' in resolving Gulf dispute, still believes in GCC * BRIEF-Qatar Investment Authority, Volkswagen Sign 'Project Qatar Mobility' * Sultan Qaboos returns to Oman after medical treatment in Belgium - ONA * BRIEF-Bank Muscat Obtains Regulatory Approval For Fintech Investments * BRIEF-Oman's Majan College University College Q1 Income Rises (Reporting by Dubai Newsroom)
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