Wizz Air became the best low-cost airline company of the year
Turizmus.com reports that Wizz Air was chosen 2016’s Low-Cost Airline at the summit of the Centre for Aviation (CAPA), which is the independent provider of aviation market information and analyses.
The summit was held in Amsterdam on October 26-28, and it was October 27 when József Váradi, CEO of Wizz Air received the award. The CAPA appreciates airlines and airports which are successful and apply strategies that can serve as examples worth to follow.
For the award, first, companies get nominated, then the independent analysts of CAPA and Heidrick & Struggles check and sort the nominees. Eventually, the winners are chosen by an independent and global jury.
Wizz Air could win the title of 2016’s Low-Cost Airline because it performed excellently from a strategic point of view during the year, and had the biggest effect on the industry’s development. Furthermore, it acted as a leader and set the bar for the rival companies.
The jury appreciated the airline’s permanent high-quality performance and quick expansion in a difficult region. The previous financial year, for example, brought a 20% capacity growth for the company.
Nowadays, Wizz Air is the leading airline in the market of Hungary, Romania, Macedonia, and is strongly present in other parts of Central and Easter European countries, such as Poland, Bulgaria, Latvia and Lithuania.
The site quotes Peter Harbison, president of CAPA, who said that Wizz has been performing excellently in Europe, especially since its 2015 stock market entry. For seven years the airline company has been profitable, and in terms of supplementary services, it has the highest profit, via every passenger, in Europe.
In the financial year of 2016, Wizz Air had one of the lowest CASK (cost per available seat kilometre) in Europe. The company has doubled the number of its passengers in the past five years and currently operates flights to 130 destinations, while its fleet includes 73 Airbus A320 and A321 planes.
Copy editor: bm