Wizz Air Holdings Plc. expects a “couple of percentage point increase” in capacity this summer with short-term aircraft leases and new plane deliveries as the carrier looks to safeguard its network amid the grounding of some of its fleet due to engine issues.
The Budapest, Hungary-based discount carrier estimates capacity limitations due to its Pratt & Whitney turbines will take about 18 months to work through, Chief Executive Officer Jozsef Varadi told Bloomberg in an interview on Wednesday. Wizz also plans to reduce frequencies instead of routes, he said.
Wizz is under pressure from larger rival Ryanair Holdings Plc which is looking to double down in the Hungarian carrier’s home markets of central and eastern Europe. Varadi brushed off the Ryanair threat, saying that its issues were temporary and Wizz would ramp up capacity once it received overhauled engines in 2025.
While Ryanair has warned of rising prices amid tight capacity, Wizz doesn’t plan to follow suit.
“You can’t be the fastest growing airline in Europe if you just increase prices because then you’re killing demand,” Varadi said.
