WOOD Flash – Wizz Air: analyst day – meeting takeaways
Wizz Air hosted an analyst day for sell-side analysts yesterday (28 February). The company disclosed its strategic target W300, which assumes having 300 aircraft in 10 years or less, and carrying 100m passengers. Wizz Air wants to achieve this target through continuous expansion in the CEE market, which it still sees as very promising. It still aims to remain a cost leader, while introducing A321NEO aircraft to its fleet should further improve unit costs. The company also disclosed a long-term plan aimed at switching from aircraft leasing to aircraft ownership, which should improve its cost base and offer more flexibility. Overall, we see the new strategic goals as ambitious, but achievable. In terms of unit revenue and unit costs, the strategic targets are fully in line with our forecasts. However, both the short- and long-term capacity growth targets are ahead of our forecasts. Therefore, we believe that the new goals fully support our investment story, based on fast growth. However, it appears that Wizz Air may deliver growth even faster than we anticipate.Wizz Air Holding is a European airline. As of Mar 31 2017, Co. provided more than 500 routes from 28 bases, connecting 141 destinations across 42 countries. Co. has two reportable segments: the airline and the tour operator business units, marketed under the Wizz Air and Wizz Tours brand names, respectively. Wizz Air sells flight tickets and related services to external customers and, to an extent, to Wizz Tours. Wizz Tours sells travel packages to external customers covering the network of Wizz Air.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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