Central Europe’s biggest low cost airline yesterday signed a payment financing and sell back lease agreement with Chinese aircraft leasing firm ICBC Financial Leasing Co. Ltd for 8 Airbus A320 aircraft.
This order, costing in excess of USD 700 million, will substantially strengthen the position of Wizz Air in the highly competitive European market. Aircraft deliveries will begin in 2013 and continue through 2014.
European low cost carriers are placing new aircraft orders not only in an effort to increase their network capacity and enhance the cost efficiency of their fleets, but also in direct response to the desire of national governments to enhance access to their home markets for business and leisure travelers alike.
Wizz Air currently offers services from Geneva to Bucharest and Budapest. With Geneva strategically placed at the heart of Europe and with Wizz Air’s increased capacity, it will be interesting to watch Wizz Air’s network expansion plans to see what new cities in Central Europe the airline might serve from Geneva.
Source: wizzair.com
