Wizz Air plans to increase its global fleet
- 25 Jan 2024
Wizz Air plans to increase its global fleet by 35 aircraft in the current year to meet the rising demand for air travel, particularly in low-cost aviation.
In an interview with the Emirates News Agency (WAM), Jozsef Varadi, the CEO of Wizz Air, stated that the company expects to receive over 300 new aircraft in the next six years, with a goal of surpassing 500 by 2030. He expressed confidence that a significant portion of this new fleet will be based in the Middle East, specifically in the UAE.
Currently, Wizz Air has 12 aircraft based in Abu Dhabi, with plans to expand to 50 in the next four to five years. In 2023, Wizz Air Abu Dhabi transported over 3 million passengers, with expectations to reach 10 million in the next four to five years.
He stated that Wizz Air is set to end the fiscal year strongly, having achieved profitability and operational efficiency close to pre-COVID levels. The company experienced significant growth in 2023, with a 20% increase compared to the previous year and a 50% rise from 2020, making it one of the fastest-growing airlines.
However, in 2024, Váradi noted the airline anticipates challenges due to supply chain constraints, particularly related to engine inspections by manufacturers. This may limit capacity expansion despite fleet growth.
He stated that the company currently has around 200 aircraft, and about 35 new aircraft will be delivered during the current year, bringing the total number of aircraft in the company to over 500 by 2030.
“Despite the challenges with supply chains, we expect similar performance in 2024 to 2023 in terms of capacity, and in certain areas, we will continue to grow, such as in Abu Dhabi, where we expect our business to grow by up to 25%,” he added.
He emphasised that the performance of the UAE market was very strong for Wizz Air Abu Dhabi, noting that the growth in demand for aviation is directly related to business and economic growth.
He pointed out that the significant growth in demand in the UAE led to doubling their business in 2023, with expectations for growth again this year.
WAM