Wizz Air Buffered from Volatile Kerosene Prices

Budapest-based low-fare carrier Wizz Air said in a statement that it had earlier secured options for a large part of its kerosene needs, shielding it against volatile price changes.

"Wizz Air has earlier secured options for a large part of its kerosene requirements, to a greater extent than other airlines, and is protected against rapidly changing fuel prices," Wizz Air told MTI.

Wizz Air added that more than 75% of its fleet consists of Airbus A320neo aircraft "which have the lowest kerosene consumption per passenger kilometer in the industry".

Wizz Air dismissed suggestions in the press by Ryanair CEO Michael O'Leary that Wizz Air was among European airlines that could face financial ordeals later in the year if fuel prices remain high, calling the comments "clearly untrue."

"Wizz Air's financial position is stable and it has significant liquidity. It finances its aircraft 18 months in advance, allowing for ample competition among financial service providers. This stability is also demonstrated by Wizz Air's long-standing relationships with leading leasing companies and manufacturers, and the continued smooth execution of its fleet strategy," the airline said.