A $13 Billion Bet That Air Travel Will Soon Take Off
Eastern Europe’s discounter Wizz Air places a huge aircraft order in a bid to catch Ryanair and EasyJet.
The travel sector is still struggling to survive the ravages of the coronavirus. Each time an outbreak recedes, another variant appears, throwing a nascent recovery off course once more. But from its perch in Eastern Europe, Wizz Air Holdings Plc is charting an aggressive—and potentially risky—expansion.
The budget carrier has pledged to lift capacity 50% above pre-pandemic levels this summer, deploying bigger planes and more flight slots to reach the goal. The gambit, punctuated by its November order for 102 Airbus SE planes worth $13 billion at list price, will either vault Wizz into the league of larger low-cost rivals Ryanair Holdings Plc and EasyJet Plc or make it even more vulnerable to Covid-19’s vagaries.