Wizz Air, the largest low-cost carrier in Central and Eastern Europe, has announced its intention to proceed with an initial public offering of its ordinary shares to institutional and professional investors in the United Kingdom and elsewhere. The Company intends to apply for admission of its Ordinary Shares to the premium segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock exchange.
Since the Company’s first flight in 2004, Wizz Air has grown to become the largest low-cost carrier in Central and Eastern Europe with a market share of 38% (based on scheduled departing seat capacity) for the year ended 31 March 2014. Wizz Air provides low-cost air transportation services on scheduled short-haul and medium-haul point-to-point routes across Europe and into the Caucasus and the Middle East. Wizz Air has a diversified network spanning 35 countries from 17 bases in nine Central and Eastern European countries with flights to 96 destinations. Wizz Air’s ultra-low-cost carrier business model enables Wizz Air to offer customers consistently low ticket prices which, in turn, stimulates demand creating new and more frequent travellers, and allowing Wizz Air to compete effectively in the markets in which it operates.