Wizz Air revives plan to float on the London Stock Exchange

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The eastern European-focused budget carrier scrapped plans for a flotation last summer, blaming market volatility in the airline business.

This time around the company is seeking to raise €150 million (£113.4 million) instead of the €200 million it was aiming for last year.

 

Wizz Air chief executive József Váradi said: “Our low fares offer many consumers throughout Central and Eastern Europe access to low cost air travel for the first time and we operate in many markets where low cost airline penetration is low with significant potential for growth.”

The company said its revenue for the nine months to December 31 increased by 22% year-on-year to €992 million, driven by an 18% increase in passenger numbers to 12.7 million.

Wizz Air said it wants to complete the listing by the end of March, but gave no details on the number of shares available or pricing.

Additional reporting by Reuters

Source Article from http://www.standard.co.uk/business/business-news/wizz-air-revives-plan-to-float-on-the-london-stock-exchange-10022390.html

February 4, 2015 |
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