26th Mar 2015 07:59
LONDON (Alliance News) - Wizz Air Holdings PLC Thursday said it expects its revenue and profit in the financial year to end-March to be in line with its own expectations after it "traded well" through the fourth quarter, and it said it would restructure its Ukrainian operations in response to the crisis in the country.
The Hungarian low-cost airline with operations across Eastern Europe, which had already cut capacity in Ukraine in 2014, said it will now base one Airbus A320 aircraft in Kiev operating eight routes. The second Airbus A320 currently based there will be redeployed to Kosice in Slovakia, operating new routes to Milan Bergamo and Sheffield-Doncaster in early June. It will discontinue its Wizz Air Ukraine Airlines LLC subsidiary.
The company said it "stands ready for expansion as and when market conditions improve" in Ukraine.
"The restructuring of the group's Ukrainian operations and the closure of Wizz Air Ukraine will not have a material effect on the group's trading in the current year and subsequent financial years," it added.
By Steve McGrath; [email protected]; @stevemcgrath1
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