REG - Wizz Air Holdings - Ukraine - further update

Wizz Air HoldingsAnnouncement

07/03/2022 08:30

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RNS Number : 8340D  Wizz Air Holdings PLC  07 March 2022

Wizz Air Holdings Plc

Ukraine conflict - further update

 

LSE:  WIZZ

 

Geneva, 7 March 2022: Wizz Air Holdings Plc ("Wizz Air" or the "Company"),
the fastest growing and most sustainable airline in Europe, provides a further
update on key matters pertaining to the conflict in Ukraine.

 

Network

 

Following the outbreak of the war, the Company has taken all flights
originating from its Kiev, Lviv and Saint-Petersburg bases off sale. The
flights from its Moldovan base have been shifted to Iasi, Romania, through 31
May 2022.

 

Inbound flying to these and other destinations in Ukraine and Russia are also
suspended until further notice, with flights inbound to Moldova shifted to
Iasi, Romania up until 31 May 2022.

 

Our Q1 F23 capacity for the wider network has been adjusted to grow 30% over
2019 and our Q2 F23 capacity is expected to grow 40% over 2019, all measured
in ASKs.  Our commercial plan maintains a capacity mix of c.65% in our core
Central Europe region, c.30% from Western bases and c.5% from Abu Dhabi.

 

People

 

All of our Ukrainian organization is supported by an employee and family
support scheme and all will be offered new employment within one of our bases.
We are also offering new jobs with relocation support for Ukrainians who wish
to join us.

 

Fuel costs

 

Given the high and volatile commodity environment, the Company has, in
agreement with its Board, capped its fuel cost exposure for the next four
months with zero cost hedges.  As at 7 March 2022 the spot price was 1,300
USD/mT.

 

                March '22     Q1 F23
 Ceiling price  1,172 USD/mT  1,142 USD/mT
 Coverage       50%           40%

 

Assets

 

The Company continues to await a safe evacuation window for its four Ukraine
based aircraft.

 

 

- Ends -

 

 

ABOUT WIZZ AIR

Wizz Air, the fastest growing European low-cost airline, operates a fleet of
148 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals
delivers superior service and very low fares, making Wizz Air the preferred
choice of 10.2 million passengers in the financial year F21 ending 31 March
2021. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ.
The company was recently named one of the world's top ten safest airlines by
airlineratings.com, the world's only safety and product rating agency, and
2020 Airline of the Year by ATW, the most coveted honour an airline or
individual can receive, recognizing individuals and organizations that have
distinguished themselves through outstanding performance, innovation, and
superior service.

 

 - Ends -

 

 

 For more information:

 Investors:  Zlatko Custovic, Wizz Air                               +36 1 777 9407
 Media:      Christie Rawlings, Wizz Air                             +36 70 685 1583/+44 78 1115 5205

             Edward Bridges / Jonathan Neilan, FTI Consulting LLP:   +44 20 3727 1017

 

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