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Wizz Air Orders 10 Additional A321ceo Aircraft
Wizz Air Orders 10 Additional A321ceo Aircraft.
About this update from Wizz Air Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 7198I Wizz Air Holdings PLC 21 June 2017 \n\nWIZZ AIR ORDERS 10 ADDITIONAL A321CEO AIRCRAFT\n \nAircraft to be delivered in 2018 and 2019\n \nParis, 21 June 2017: Wizz Air Holdings Plc (the \"Company\" and, together with its subsidiaries, \"Wizz Air\"), the largest low-cost airline in Central and Eastern Europe, today announces an order for an additional 10 Airbus A321ceo aircraft, powered by IAE International Aero Engines AG's V2500 engines (the \"Airbus Agreement\"). The additional aircraft will join Wizz Air's fleet in 2018 and 2019 and will support Wizz Air's significant growth plans as its responds to strong and growing demand for air travel within Central and Eastern Europe. \n \nBased on current list prices, the value of the new order, placed with Airbus S.A.S. and IAE International Aero Engines AG, is some US$1.16billion, although Airbus has granted significant discounts from list prices to Wizz Air. The Company will retain flexibility in determining the most favourable method of financing the aircraft under the Airbus Agreement.\n \nWizz Air has been operating the Airbus A321 since November 2015 and currently operates 19 of the 230-seat ultra-efficient aircraft type with another 22 A321 aircraft to join the airline's fleet by 2019. Wizz Air is achieving 10% unit cost savings with the A321 when compared to the A320, allowing the airline to continue to grow its extensive network within Europe and beyond at the lowest cost and so to continue to bring the lowest prices to its customers. As one of the fastest growing airlines in Europe with one of best profit margins, these additional aircraft, together with the 110 firm-order, new-technology A321neo aircraft already ordered for delivery from 2019 onwards, will see Wizz Air's fleet more than double by 2024 allowing the airline to maintain its position as the largest low cost carrier in Central and Eastern Europe and driving its unit operating costs to become best-in-class. \n \nGiven the size of the list price commitments under the Airbus Agreement relative to the Company, the purchase may constitute a \"class 1 transaction\" under the Listing Rules and therefore entry into the Airbus Agreement may be conditional upon Wizz Air shareholder approval. A further announcement in this regard will be made in due course. \...