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Hungary’s Low-Cost Wizz Air to Pursue London IPO

Skift Take

We’re looking forward to the transparency into Wizz Air’s business that the IPO will offer us.

— NewsCred

Wizz Air Ltd., Eastern Europe’s biggest budget carrier, said today that it will pursue an initial public offering in London.

The share sale aims to raise about 200 million euros ($273 million) and should be completed next month, the Vecses, Hungary-based carrier said in a statement today. Wizz said it will listed on the main market of the London Stock Exchange.

The carrier, founded in 2004, faces heightened competition in some markets as Ryanair Holdings Plc, Europe’s biggest discount airline, adds more bases in the east of the continent. Wizz Air has a fleet of 46 Airbus Group NV single-aisle planes, with an average age of 4.4 years, according to the release.

“We look forward to building on our success to date as we leverage opportunities both in our current markets, new markets in the Central and Eastern European region and further east, many of which have significantly higher gross domestic product growth forecasts than the rest of Western Europe,” Wizz Chief Executive Officer Jozsef Varadi said in the statement.

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net. To contact the editors responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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