Wizz Air shares dip as airline continues to operate in Ukraine
Shares of low-cost airline Wizz Air have dipped today, going down 1.43 per cent to close at 3,988p, as the company announced it will continue to operate in Ukraine despite the imminent threat of a Russian invasion.
“Wizz Air is committed to continuing to fly to Ukraine and the country remains an important part of our growth plans,” a company spokesperson told the Telegraph.
As part of its expansion plan, the company has applied for a US license and it aims to increase its fleet to 500 aircraft by 2030. Wizz’s chief executive Jozsef Varadi is also targeting a £100m bonus if he manages to bring the airline’s share price over £120.
“Ukraine, despite all the geopolitical concerns in the country has been performing as a very strong market, and we have been following that through be it additional investments into the network and deployment of aircraft in the marketplace,” said Varadi last month.
Even though several carriers – including Vueling, Air France and Lufthansa – have decided to halt all operations because of Moscow’s offensive into Ukraine, Wizz Air is not the only airline who has decided to carry on flying.
Last week, Ryanair’s boss Michael O’Leary said his company had a duty to continue flying to Kiev as long as “there is no war or missiles flying there.”
“We see no reason not to continue those flights until we are told by European authorities that it is not safe to fly,” he said on 16 February during a press conference. “It is important not to panic. People need to get home and people want to leave and fly abroad to the EU … airlines have to provide that service.”
Just like the Budapest-based airline, Ryanair has been focusing on Ukraine in the last few months, saying in January it would open a few bases in the country if geopolitical tensions were to come to an end, City PM reported.