Wizz draws up ambitious plans for flights from UK to Middle East and Asia

Hungarian low-cost airline Wizz Air is drawing up plans for flights from the UK to the Middle East and Asia as part of an ambitious expansion into the long-haul market. The London listed carrier, which focuses on the European short-haul market, is planning trips out of the UK to destinations that could include the United Arab Emirates, Israel and Saudi Arabia. It will use some of the 47 new longer-range single-aisle A321XLR planes it has on order from Airbus on the routes, said Marion Geoffroy, the managing director of Wizz Air UK. The narrow body jet took its first flight in June, with the aircraft slated to enter service in 2024, according to Airbus. “Of course, the UK would be a good market [for the XLR], and we’ve actually started the design of the potential network for XLRs and secured some designations to countries where we currently don’t fly to,” she said. The airline, founded in 2004 and listed in London in 2015, has grown to become a major competitor to Ryanair in Europe’s low-cost market. But it has suffered a difficult year and been badly exposed to the sudden rise in the price of jet fuel after abandoning fuel hedging during the pandemic. Its shares, which hit record highs in 2021, have fallen nearly 70 per cent this year, as investors bet on Ryanair dominating the European low-cost market. However, Wizz’s problems have not stopped the airline from extending its ambitions beyond Europe and come as it pursues a wider strategy of growth in the Middle East, where it has set up a joint venture in Abu Dhabi.<br/>
Financial Times
https://www.ft.com/content/c5510ef0-974c-41b8-bff8-af699199d524
10/21/22