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Fuel Hedge Update

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RNS Number : 5214M
Wizz Air Holdings PLC
17 September 2019
 

FUEL HEDGE UPDATE

Ticker:  WIZZ

Geneva, 17 September 2019: Given the significant increase in the fuel prices in recent days Wizz Air Holdings Plc ("Wizz Air"), the largest low-cost airline in Central and Eastern Europe, today provides the following update on its fuel hedging positions.

 

Wizz Air operates under a clear set of treasury policies approved by the Board and supervised by the Audit Committee.  The aim of the hedging policy is to reduce short-term volatility in earnings and liquidity.  The Company has taken advantage of lower fuel prices over the summer period and increased its hedge position beyond its policy minimum levels of 50 per cent. of the projected jet fuel requirements for the next twelve months and 40 per cent. on an 18-month hedge horizon.  

 

Details of the current hedging positions (as of 17 September 2019) are set out below:

 


F20

F21

Period covered

7 months

12 months

Exposure in metric tons ('000)

703

1,452

Coverage in metric tons ('000)

541

621

Hedge coverage for the period

77%

43%

Blended capped rate

$692

$661

Blended floor rate

$633

$603

 

 

ABOUT WIZZ AIR

Wizz Air is the largest low-cost airline in Central and Eastern Europe, operates a fleet of 119 Airbus A320 and Airbus A321 aircraft, and offers more than 710 routes from 25 bases, connecting 150 destinations across 44 countries. At Wizz Air, a team of more than 4,500 aviation professionals delivers superior service and very low ticket prices making Wizz Air the preferred choice of over 36 million passengers in the past 12 months. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ and is included in the FTSE 250 and FTSE All-Share Indices. Wizz Air is registered under the International Air Transport Association (IATA), Operational Safety Audit (IOSA), the global benchmark in airline safety recognition. The company recently received the highest 7-star safety rating by airlineratings.com, the world's only safety and product rating agency, and was recently named 2017 - European Airline of the Year by Aviation 100, a renowned annual publication that recognizes the year's most outstanding performers in the aerospace industry.

 

 - Ends -

 

 

For more information:




Investors:

Evelin Horvath, Wizz Air

+41 22 555 9863




Media:

Tamara Vallois, Wizz Air:

+36 1 777 9324


Edward Bridges / Jonathan Neilan, FTI Consulting LLP:

+44 20 3727 1017

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Wizz Air Holdings

Price: 3800

Market: AIM
Market Cap: £39 m
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