Wizz Air aims to catch Ryanair on costs

Wizz Air expects to replace Ryanair as the airline with the lowest costs in Europe over the next year or so, according to its CE. Jozsef Varadi said its rival's costs were creeping up as it flies to more primary airports and invests in customer service. "Our costs keep coming down, their costs creep up, so I think in the course of the next year or so, the lines will cross," he said. Varadi was relaxed about Ryanair's plans to open up a base in Timisoara airport in Romania, from November. "Ryanair has been in central and eastern Europe for seven years," he said, adding he thought there was plenty of space in the eastern European market for them both. "Competing with Ryanair just makes us more formidable as a competing force." As part of its growth plans, Wizz Air floated in London last year and has ordered 110 Airbus A321neo aircraft, which will be delivered from 2019. The carrier will also take delivery of over 40 A321ceo aircraft, between now and mid-2018. "With regard to the ceo aircraft we would finance on the basis of sale and leaseback, but with the neo we would take a more diverse view of financing," Varadi said.<br/>