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CHEAP FLIGHT TICKETS FROM WIZZ
AIR CROSS 2 MILLION |
Wizz Air cheap flight tickets cross 2 million mark
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BY OUR AVIATION CORRESPONDENT
29 August, 2005: Wizz Air, central and Eastern Europe's biggest budget airline has crossed the 2 million ticket sales mark, just 6 months after it crossed the 1 million mark. Wizz Air passenger load in July was 196289 passengers. The peak load factor was as high as 90%.
The forward flight ticket bookings indicate even higher Wizz Air bookings for August. There has been a 20% increase in load factor for September and October, compared to last year's same period.
Wizz Air was launched in Hungary in 2004, to cater to central and East European flights. Wizz management claims that the company has already turned profitable. A Wizz Air IPO is also on cards. The low-budget airline, which has made mark by offering cheap flight tickets and bookings, now has 38% market share in Poland and 26% in Hungary.
József Váradi, Chief Executive Officer of Wizz Air said: ‘Wizz Air is well on track to carry its 2 millionth passenger by mid-September, achieving its second million in just over 6 months. The airline has been performing outstandingly well financially and according to the highest operational standards. Profitable operation, ever strengthening cash flow, lowest unit costs, 82% on-time performance and above 99,7% technical dispatch reliability of our young Airbus A320 fleet - both well above European average – give us a significant advantage over our competitors in the region. Undoubtedly, Wizz Air is winning the game in Central and Eastern Europe.’
Wizz Air took wings in 19th May 2004, with a team of professionals from the aviation industry. It was established as a company in London, with subsidiaries in Poland and Hungary. Wizz Air is headed by József Váradi, formerly CEO of an East European Airline Malev Air in Hungary.
Wizz Air achieved its full funding in 2005 January 2005 with an international investor group lead by Indigo Partners pumping in 34 million euro. This, Wizz Air claims, made it the most well capitalized startup low-cost airline in Central and Eastern Europe.
Wizz Air, like many other low-budget airlines, focuses on the cheap flight ticket, discount budget airline model, which has made a success of low-cost airlines like Virgin and Ryan Air.
Wizz Air flies a fleet of six Airbus A320 young planes. Wizz Air has set up its bases at Budapest in Hungary and Katowice, Warsaw, Gdansk in Poland. Wizz flies to 17 European destinations from these four base airports. Most of the airports it flies to are secondary airports, in an attempt to keep expenses down. The company claims that it is constant negotiations to establish an operations network for unparalleled low-cost air transport for Central and Eastern Europe.
BY OUR AVIATION CORRESPONDENT
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