REG - Wizz Air Holdings - Ukraine Update

Wizz Air HoldingsAnnouncement

02/03/2022 12:15

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RNS Number : 3885D  Wizz Air Holdings PLC  02 March 2022

 

 

Wizz Air Holdings Plc

Ukraine conflict update

 

LSE:  WIZZ

 

Geneva, 2 March 2022: Wizz Air Holdings Plc ("Wizz Air" or the "Company"),
the fastest growing and most sustainable airline in Europe, today provides an
update in light of the current conflict in Ukraine.

 

Our primary concern has been the safety of our people in Ukraine and the
Company is working tirelessly to support the remaining employees who are
willing and able to evacuate from the country, providing them full support to
find safety in neighbouring countries.

 

As the only EU airline to have bases and aircraft based in Ukraine, with three
aircraft located in Kyiv and one aircraft in Lviv, we have an evacuation plan
ready to bring the assets out of the country when it is safe to do so.

 

With the closure of Ukrainian, Moldovan and Russian airspace, the Company has
suspended all flights to and from Ukraine and Russia while operating Moldova
flights out of Iasi, Romania. We will continue to review the suspensions as
the situation unfolds. The aggregate Ukraine/Russia impact was 2% fewer
network flights in February than originally scheduled, and we expect March to
see an impact of 7% on the network. For the first quarter of F23 (April to
June) we are adjusting our point to point network to maximally mitigate this
impact by redistributing capacity.

 

At this point our F22 guidance in terms of operating loss will be materially
consistent with the guidance provided at the time of our Q3 results release.
The commercial and commodity impact behind the geopolitical crisis was in part
offset by the improving post-COVID trading environment and as such we expect
to have a Q4 operating loss slightly greater than the Q3 operating loss
subject to preserving the integrity of our assets on the ground or other
further developments in March 2022.

 

József Váradi, Wizz Air Chief Executive commented:

 

"In this very concerning situation we have been focused on helping our
colleagues and their families in Ukraine, to move to places of safety. I am
incredibly proud of how our people have stepped up and worked around the clock
to try to provide the best support at this difficult time. Many colleagues are
volunteering, offering a place to stay and have donated money to the WIZZ
Employee Solidarity Fund to help support our Ukrainian colleagues and their
families. At the same time we continue to work to bring everyone to safety and
to provide support where needed.

 

We will offer already evacuated colleagues continued support and the choice to
get employment elsewhere in the network, should they wish to. Wizz Air also
announced it will support Ukrainian refugees by offering them 100,000 free
seats on all short-haul flights departing from Ukraine's border countries,
and, will also offer 29.99 EUR rescue flights.

 

We continue to work through the operational challenges arising from the crisis
in Ukraine and we are redistributing capacity to routes and bases where we can
drive demand in line with our proven ULCC model."

 

 

 - Ends -

 

 

 

ABOUT WIZZ AIR

Wizz Air, the fastest growing European low-cost airline, operates a fleet of
150 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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