What’s Wizz Air Business Model?
Wizz Air Holdings Plc provides passenger and cargo air transportation services. The Company offers flight and connection programs in Central and Eastern Europe.
What Wizz Air is doing in more details?
Wizz Air Holdings’ airplanes wizz across the skies of Central and Eastern Europe. Operating primarily through Wizz Air Hungary Ltd., the company is a low-cost airline with a fleet of over 135 Airbus aircraft, connecting around 165 destinations serving about 45 countries.
It owns a young fleet of Airbus A320 aircraft with 180 seats and A321ceo aircraft with 230 seats. The carrier booked some 10 million passengers on about 825 routes. Around 70% of its total sales were generated from the European Union countries. Wizz Air was established in late 2003.
Where Wizz Air is Operating?
Wizz Air flies to a mix of primary, secondary and regional airports, providing friendly and fast customer service for low costs, which are reflected in WIZZ fares.
The company’s services includes airport comfort services, fare lock, privilege pass, WIZZ priority, WIZZ flex, WIZZ for families, WIZZ account, and auto Check-in, among others.
In terms of its fleets, which the company operates over 135 aircrafts, it has Airbus A320 ceo/neo with 180/186 seat capacity, Airbus A321ceo with 230 seat capacity, and Airbus A321neo with 239 seat capacity.
Overall, ancillary revenues account for around 55% of sales, while passenger ticket revenue accounts for the rest.
Where is the geographical reach of Wizz Air?
Wizz Air has its headquarters located in Jersey, UK. The company’s bases reside in Poland, Hungary, Bulgaria, Romania, Ukraine, Czech Republic, Serbia, Lithuania, North Macedonia, Latvia, Bosnia, Slovakia, and Georgia.
In general, it has presence in about 45 countries.
What is Wizz Air’s Sales and Marketing Strategy?
In addition to its sales, hotels, car hire, travel insurance, airport parking, airport transfer and Wizz credit cards are third parties for Wizz Air.
Wizz Air derives the vast majority of its revenues from its passengers and sells most of its tickets directly to the passengers as final customers rather than through corporate intermediaries (tour operators, travel agents or similar).
What is Wizz Air Financial Performance?
The company’s revenue decreased to 73% to ?739 million in fiscal 2021 from ?2.8 billion.
Net loss for fiscal 2021 was ?576 million from a net income of $281 million in fiscal 2020.
Cash held by the company at the end of fiscal 2021 increased to ?1.1 billion. Financing activities provided ?624.6 million, while operating and investing activities were ?224.6 million and ?146.5 million, respectively.
What is Wizz Air Future Strategy?
The company’s strategic priorities are focused on an ultra-low-cost business model; increasing its geographic footprint; delivering leading sustainability; enable its business by creating the leading digital platform; and continue to run a highly engaged, agile and entrepreneurial organization.
What is Wizz Air’s Background?
In 2003, The plan to launch Wizz Air began in June 2003 when six people with a wide range of airline expertise and successful track records teamed up with József Váradi, the Company’s Chief Executive Officer. In just three months, Wizz Air was a registered company ready to fly.
In 2004, the first flight took off from Katowice to London Luton. In 2015, WIZZ successfully completed an initial public offering and was admitted to the London Stock Exchange.