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☆ Profitability is returning, says Wizz Air CEO
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailProfitability is returning, says Wizz Air CEOJózsef Váradi, CEO of Wizz Air, discusses the company's results and how the sector is recovering from significant volatility.

Persons: József Váradi Organizations: Wizz

☆ London stocks inch higher on mining and energy push; Vodafone slumps
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.1%, FTSE 250 flatJune 8 (Reuters) - UK's main stock indexes edged higher on Thursday, supported by a boost from mining and energy stocks, although a sharp drop in the shares of British mobile operator Vodafone capped gains. The resource-heavy FTSE 100 (.FTSE) was up 0.1% as of 0718 GMT, while the domestically-focused FTSE 250 (.FTMC) midcap index was little changed. Oil and gas (.FTNMX601010) and miners (.FTNMX551020) were the top sector gainers, while precious metals (.FTNMX551030) and chemicals (.FTNMX552010) took the worst hit. Wizz Air (WIZZ.L) gained 1.8% after the European low-cost airline forecast a net profit of 350 million euros to 450 million euros ($374.57 million to $481.59 million) in its current financial year. ($1 = 0.9344 euros)Reporting by Ankika Biswas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Crest, Ankika Biswas, Rashmi Organizations: British, Vodafone, Reuters, Hutchison, HK, Wizz, Crest Nicholson Holdings, Thomson Locations: Bengaluru

☆ Biden Wants Airlines to Pay Passengers for Delays. In Europe, they already do
▼ + stars: | 2023-05-13 | by ( Bernhard Warner | Sarah Kessler | ) www.nytimes.com time to read: +2 min

“Airlines already have financial incentives to get their passengers to their destination as planned,” Willie Walsh, the director general of the International Air Transport Association, a lobbying group, said in a statement criticizing the Biden plan. Europe’s air passenger rights regulation hasn’t been a panacea. Mr. Zenere, for example, is still arguing with Wizz Air, the airline that delayed his trip to Venice last year. — Bernhard WarnerTell us what you think: What changes would you like to see introduced to make the air travel experience smoother? Yaccarino, who was NBCUniversal’s head of advertising, will take over a company that has struggled to expand its ad business.

☆ Wizz Air to suspend Moldova flights, citing security
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Wizz Air said in a statement it would lay on extra flights from the Romanian city of Iasi as replacements, including a new service to Berlin, and more flights to Barcelona, Milan Bergamo, Bologna, Rome Ciampino, Rome Fuimicino, Dortumand, Larnaca, London Luton and Treviso. Flights to Budapest and Prague will not be replaced and those inbound to Chisinau will be reallocated to other destinations in the Wizz Air network, it said. Tensions between Russia and Moldova have grown in recent months as Russian missiles aimed at Ukraine have entered Moldovan airspace and authorities have blamed the Kremlin for fuelling anti-government protests, something it denies. It said the civil aviation authority and the ministry of infrastructure and regional development had been in "constant cooperation" with Wizz Air representatives and informed them of the procedures in place to ensure aviation security. The aviation authority would take "all necessary actions" to return Wizz Air to Chisinau airport as soon as possible, and to attract other low-cost airlines.

☆ TUI sees strong summer bookings as travel recovery gains momentum
▼ + stars: | 2023-02-14 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

LONDON, Feb 14 (Reuters) - Holiday group TUI (TUIGn.DE), said on Tuesday it was seeing a positive travel recovery trend for the upcoming summer season as holidaymakers make plans to enjoy their breaks following a pandemic hiatus. Upcoming bookings for the 2023 winter and summer seasons hit 8.7 million. Low-cost airlines such as Ryanair, Wizz Air and easyJet all reported strong summer bookings earlier this year. Revenue improved by 1.4 billion euros to 3.8 billion euros year-on-year, with a growth of around a million guests to 3.3 million from the previous quarter. Separately, TUI shareholders are expected later on Tuesday to vote on a capital increase plan to repay Germany's Economic Stablisation Fund.

LISBON, Feb 1 (Reuters) - Europe was entering an "inevitable" post-pandemic period of airline consolidation as legacy flag-carriers struggle to navigate through a competitive landscape, the chief executive of low-cost carrier Ryanair (RYA.I) said on Wednesday. "We are definitely, post-COVID, entering a four or five-year period of consolidation," Ryanair's Michael O'Leary told Reuters on the sidelines of a news briefing in Portugal's capital Lisbon. Many of Europe's legacy airlines are finding it tough to effectively compete with budget carriers, hampered by weak balance sheets that could be made more robust by merging with rivals, analysts have said. Lufthansa, Air France-KLM and British Airways owner IAG are potential buyers, according to analysts. O'Leary said he believed the sector in Europe would move towards having four large airlines: Lufthansa, Air France-KLM (AIRF.PA), IAG and and Ryanair.

☆ Ryanair posts record Christmas quarter, sees 'very robust' summer demand
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: +2 min

Ryanair on Monday posted its largest after-tax profit for the October-December quarter and said bookings for Easter and summer flights in recent weeks were "very robust", boosted by demand from Asian travelers and a strong U.S. dollar. "We had record bookings in week two and week three of January, very robust demand into Easter and the summer without fare stimulation," he said. The Irish airline, Europe's largest by passenger numbers, said it had earned 211 million euros ($229.40 million) in the three months ended Dec. 31, the third quarter of its financial year. "With Asian tourists now returning and a strong U.S. dollar encouraging Americans to explore Europe, we're seeing robust demand," Chief Executive Officer Michael O'Leary said in a statement. Last week, rivals Wizz Air and EasyJet reported strong summer bookings.

☆ Wizz Air says average fares up, bookings rise
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

LONDON, Jan 26 (Reuters) - Hungarian budget airline Wizz Air (WIZZ.L) said average fares for 2023 were higher than last year on booking volumes which were also ahead. The airline said its revenue more than doubled to 911.7 million euros ($994.3 million) in the three months to end-December, while passenger numbers increased 59% to 12.39 million. Chief Executive József Váradi said Wizz Air was continuing to see evidence of strength in ticket prices and ancillaries. "As we reach the end of January, we are seeing booking volumes coming in ahead of 2022, which is in line with expectations," he said on Thursday. ($1 = 0.9169 euros)Reporting by Sarah Young, Editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

☆ Wizz Air sees strong summer, but more wary than rivals
▼ + stars: | 2023-01-26 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

[1/2] People stand next to a Wizz Air aircraft at Ferenc Liszt International Airport in Budapest, Hungary, August 18, 2022. Low cost rivals Ryanair (RYA.I), Europe's biggest airline, and Britain's easyJet (EZJ.L) have reported record bookings for summer holidays, in a sign that consumers are still keen on trips despite a looming recession. Asked if Wizz had seen the same, CEO József Váradi said: "Bookings are strong, but I don't want to get over-excited." Separately on Thursday, British airline and holiday group Jet2 (JET2.L) upgraded its annual profit forecast after strong demand for winter holidays and said bookings for the summer were encouraging. For the new financial year, Wizz will benefit from hedging and new capacity, forecasting growth of 25% to 30% this summer versus last, helping unit costs to improve.

☆ Europe Inc earnings offer market optimists more hope
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +5 min

Shares in ASML were lower after the results, having rallied recently to hit their highest since last April. Helped by strong orders in Europe, French train maker Alstom (ALSO.PA) posted an 8% rise in third-quarter sales. While it is still early in the corporate earnings season, the results offer some hope that recent economic data which has buoyed equities this month is grounded in reality. Swiss asset manager GAM (GAMH.S) meanwhile warned on profits after experiencing negative asset flows, knocking its shares 2.5% lower in early morning trading. ($1 = 0.8115 pounds)Reporting by Reuters newsroom; Writing by Josephine Mason; Editing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

Lufthansa has offered to buy an initial minority stake in ITA, Italy's state-owned successor to Alitalia, it said on Wednesday. "This may be the next step in European airline consolidation," said Bernstein analyst Alex Irving, citing Portugal's national airline, TAP, as a prime target. Lufthansa, Air-France KLM (AIRF.PA) and British Airways owner IAG (ICAG.L) are potential buyers, analysts said. "At the same time, however, we closely monitor consolidation in the European airline market." Michael O'Leary, the outspoken CEO of fellow low-cost airline Ryanair (RYA.I), also weighed in with his predictions this week.

[1/2] FILE PHOTO-Planes of German air carrier Lufthansa are parked as Lufthansa pilots start a strike over a wage dispute, at the airport in Frankfurt, Germany, September 2, 2022. REUTERS/Kai PfaffenbachROME/FRANKFURT, Jan 18 (Reuters) - German carrier Lufthansa (LHAG.DE) said on Wednesday it had offered to buy an minority stake in ITA Airways, betting on reviving the loss-making successor to Italy's Alitalia and expanding its footprint in Europe. One of the sources said it was valued at 200-300 million euros ($540 million). The new right-wing administration in Rome passed a decree in December to initially sell a minority stake through capital increases, in order to speed up a full divestment in ITA. "Acquiring ITA is one of the most challenging propositions in European aviation: the airline has been persistently loss-making," said Bernstein analyst Alex Irving.

☆ European shares muted, UK outperforms as China-exposed stocks jump
▼ + stars: | 2022-12-28 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 (.STOXX) was flat as of 9:31 GMT, while the FTSE 100 <.FTSE> advanced 0.7% as commodity-linked and China-exposed stocks jumped in early trading. The UK market, which was closed for holidays since its half-day trading on Friday, is playing catch-up, analysts said. The FTSE 100 index has benefited this year from its exposure to commodities as prices of oil and base metals have rallied amid the Russia-Ukraine war. Meanwhile, STOXX 600 was headed for an annual loss of 12.2% as concerns about an economic recession due to aggressive monetary policy tightening by central banks globally weighed on the European index. The technology sector (.SX8P) weighed on STOXX 600 on Wednesday, tracking the overnight fall in U.S. peers as rising yields pressured the interest rate sensitive shares, a recurring theme this year.

☆ Ryanair expects to emerge as Europe's only major low-cost carrier
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Nov 7 (Reuters) - Ryanair (RYA.I) on Monday predicted it would eventually become Europe's only major low-cost carrier, with Chief Executive Michael O'Leary claiming a widening gap on costs would make rivals easyJet (EZJ.L) and Wizz (WIZZ.L) takeover targets. "Europe is inexorably moving towards a similar out-turn as North America where you will have three very large, somewhat higher cost, high-fare connecting carriers, and one very large low cost carrier" in Ryanair, O'Leary said. Wizz chief executive Jozsef Varadi, who has always maintained his cost base is comparable to Ryanair's, last week said he did not see his airline as a takeover target. But he said the British airline was being forced by Ryanair to retreat in other markets like Italy and Portugal. Wizz, O'Leary said, was making progress with expansion in the Middle East but was retreating in the face of Ryanair expansion in some parts of its core central and eastern Europe region.

☆ Ryanair hails 'very strong' recovery with record summer profit
▼ + stars: | 2022-11-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

The Irish airline, Europe's largest by passenger numbers, earned 1.371 billion euros ($1.36 billion) in the six months to the end of September, the first half of its financial year. While that was just short of a forecast of 1.385 billion in a company poll of analysts, it was well ahead of its previous first-half record of 1.29 billion euros in 2017. "We expect these strong fundamentals will continue to underpin robust traffic and average fare growth for the next 18-months at least," he said. Profit and traffic are poised for "very strong growth" until 2025 assuming oil prices remain relatively stable, he added in a video presentation. However, while the airline is planning for the deliver of 51 737 MAX aircraft by next summer, O'Leary said he was concerned Boeing might fall short.

☆ Ryanair reports record summer profit, sees 'very strong' recovery
▼ + stars: | 2022-11-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

Ryanair earned 1.371 billion euros ($1.36 billion) in the six months to the end of September. While the winter will be loss-making, Ryanair expects an after-tax profit of between 1 billion and 1.2 billion euros for the year to March 31, though that forecast remains "hugely dependent" on no adverse shocks. "Concerns about the impact of recession and rising consumer price inflation on Ryanair’s business model have been greatly exaggerated in recent months," O'Leary said in a statement. "We expect these strong fundamentals will continue to underpin robust traffic and average fare growth for the next 18-months at least," he said. In a pre-recorded video presentation he predicted very strong growth in profit and traffic over the next three years assuming oil prices remain relatively stable.

☆ Ryanair posts record profit for key summer season
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Nov 7 (Reuters) - Ryanair (RYA.I) on Monday posted its largest ever after-tax profit for the first half of its financial year, which includes the key summer months, and said it hoped to post a profit of at least 1 billion euros for its full financial year. The Irish airline, Europe's largest by passenger numbers, said it had earned 1.371 billion euros ($1.36 billion) in the six months to the end of September. That compared with a forecast of 1.385 billion in a company poll of analysts and its previous first-half record of 1.29 billion euros in the six months to end-September 2017. Ryanair said it was hopeful it could deliver an after-tax profit of between 1 billion and 1.2 billion euros for the year to March 31. ($1 = 1.0053 euros)Writing by Conor Humphries; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Wizz Air eyes more growth, sees travel demand holding up
▼ + stars: | 2022-11-02 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

Wizz's upbeat forecast chimes with the outlook from other European airlines including British Airways-owner IAG (ICAG.L) and Lufthansa (LHAG.DE), which have all said they are seeing continued growth in ticket sales. Chief executive Jozsef Varadi said on Wednesday that bookings were holding up strongly: "So far we are seeing no indication of a drop in demand so we remain confident." But it is lower than the 40% capacity growth that analysts had been expecting, reflecting Wizz's caution over the resilience of its operations following airport disruption which hurt it last spring, and partly to protect unit revenues. "You obviously have a company which is going for a lot of growth in this type of market," he said. "I don't think we are a target, or we can be a target on that basis," he said.

☆ Wizz Air plans to grow by 35% as travel demand holds up
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 2 (Reuters) - Budget airline Wizz Air (WIZZ.L) said it planned to grow its capacity by 35% in the six months to the end of March as demand for travel remained strong despite the pressure on household budgets from inflation. "So far we are seeing no indication of a drop in demand so we remain confident," chief executive Jozsef Varadi said on Wednesday. Hungary-based Wizz posted core earnings for its seasonally strong June-September quarter of 374 million euros ($369 million). That represented a recovery from the previous period when staff shortages at airports dragged the airline to a loss. Overall the airline posted an operating loss of 63.8 million euros for the March to September half.

☆ FTSE 100 steady, midcaps fall ahead of key Fed meeting
▼ + stars: | 2022-11-02 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

UK pharmaceuticals stocks (.FTNMX201030) rose 1.2% after GSK (GSK.L) said it expects sales to rise between 8% and 10%, sending its shares up 1.2%. The blue-chip FTSE 100 (.FTSE) was flat, while the mid-cap FTSE 250 (.FTMC) fell 0.4% by 0934 GMT, dragged down by budget airline Wizz Air (WIZZ.L) after it said uncertainty for consumers rose. Third-quarter earnings among companies on the FTSE 100 have so far painted a mixed picture, as some firms performed better than expected as COVID restrictions eased globally, while some battled supply chain snags and surging inflation. British American Tobacco Plc fell 3%, to the bottom of FTSE 100, after Goldman Sachs downgraded its performance rating for the stock to "neutral". Reporting by Johann M Cherian in Bengaluru; Editing by Dhanya Ann Thoppil and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ A passenger who smoked a sneaky cigarette in a plane's bathroom sparked a trash can fire during flight, airline says
▼ + stars: | 2022-10-29 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +2 min

An Israeli passenger smoked a cigarette in the bathroom of an El Al plane on Friday, per The Times of Israel. The passenger will face legal action when he returns from Thailand to Israel, El Al said. The passenger's cigarette butt set toilet paper and tissues inside the trash can aflame, The Times of Israel reported. Flight attendants and the plane's captains used extinguishers to put the fire out, El Al said, per the newspaper. Police did not detain or remove anyone from the plane, the newspaper reported.

☆ Flights briefly disrupted at UK's Luton airport as heat damages runway
▼ + stars: | 2022-07-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 18 (Reuters) - Flights to and from Britain's London Luton airport were temporarily disrupted on Monday after soaring temperatures caused a defect in its runway, prompting airlines to delay or divert their planes. read moreThe airport said its runway had reopened at 1705 GMT, after earlier suspending flights at 1522 GMT. Some 14 flights due to land at Luton were diverted to other airports including Gatwick and Stansted on Monday afternoon, according to FlightRadar24 data. That total included 14 Wizz flights heading to European holiday destinations including Tenerife and Dubrovnik, and 16 EasyJet arrivals. A spokesperson for Ryanair said it had not cancelled any flights to or from Luton, but had diverted a small number to London Stansted Airport due to the runway defect.

☆ Wizz Air запустила новый рейс Кишинев – Абу-Даби – Цензура МД
▼ + stars: | 2021-07-09 | by ( ) cenzura.md time to read: +1 min

Общество Wizz Air запустила новый рейс Кишинев – Абу-ДабиWizz Air Abu Dhabi, новая национальная авиакомпания Объединенных Арабских Эмиратов, отметила открытие маршрута Абу-Даби-Кишинев, который был запущен впервые. Самолет приземлился в Международном аэропорту Кишинёв в 14.30 8 июля 2021 года и был торжественно встречен традиционным крещением. Чтобы обеспечить безопасность пассажиров и экипажа самолета, Wizz Air внедрила дополнительные меры гигиены, чтобы поддерживать социальную дистанцию во время посадки и поддерживать чистоту на борту самолета на самом высоком уровне. Более подробную информацию о расписании рейсов и билетах пассажиры могут найти на сайте wizzair.com и в мобильном приложении авиакомпании. Пассажиры, планирующие вылет в этот пункт назначения, могут проверить текущие условия и ограничения въезда в страну, в которую они путешествуют, на веб-сайте Wizz Air в разделе «Карта планирования поездки» или на официальном веб-сайте страны и / или ее консульства.

Persons: Organizations: Международный аэропорт Locations: Abu Dhabi, Кишинев, Объединенные Арабские Эмираты, АбуДабиКишинев

☆ Лоукостер Wizz Air Абу-Даби запускает новый рейс в Кишинев
▼ + stars: | 2021-06-08 | by ( ) nokta.md time to read: +1 min

Wizz Air Abu Dhabi, новейшая национальная авиакомпания ОАЭ, объявила о запуске нового маршрута в Кишинев, Молдова, с 4 сентября 2021 года. Рейс в Кишинев будет выполняться два раза в неделю по вторникам и субботам.л:«Мы рады объявить о новом маршруте из Абу-Даби в Кишинев после обновления зеленого списка путешествий, который теперь включает Молдову. По мере ослабления ограничений спрос на поездки растет и мы стремимся предоставить нашим клиентам дополнительные возможности для путешествий, расширяя нашу текущую сеть новыми интересными маршрутами», — сказал Кис Ван Шайк, управляющий директор Wizz Air Abu Dhabi, передает wam.ae. Благодаря недавнему обновлению зеленого списка стран, пассажиры, путешествующие из Молдовы, не должны находиться на карантине по прибытии в столицу ОАЭ. Дети в возрасте 12 лет и младше освобождаются от этого правила, если у них не проявляются симптомы коронавируса.

Persons: nokta, Кис Ван Шайк Locations: Abu Dhabi, wam.ae, ОАЭ, Кишинев, Молдова, АбуДаби

☆ Wizz Air Abu Dhabi запускает рейсы в Кишинев
▼ + stars: | 2021-06-08 | by ( ) ru.diez.md time to read: 1 min

С 8 июля 2021 года авиаперевозчик Wizz Air будет выполнять рейсы в Кишинев, столицу Молдовы, по вторникам и субботам сообщает Russian Emirates. Ранее Департамент культуры и туризма Абу-Даби включил Молдову в список «зеленых» направлений для путешествий. Дети в возрасте 12 лет и младше освобождаются от этого правила, если у них не проявляются симптомы коронавируса. Напомним, ранее молдавский лоукостер FlyOne заявил, что приступает к выполнению чартерных рейсов в грузинский город-курорт Батуми. Сезонные полеты из Кишинева в Батуми начнут осуществлять с 4 июня дважды в неделю — по вторникам и пятницам.

Organizations: Департамент культуры и туризма Locations: Russian Emirates, Кишинев, Молдова, АбуДаби, ОАЭ, Батуми

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