Wizz Air Holdings PLC (AIM:WIZZ) said it plans to exercise its option to acquire 75 Airbus A321neo aircraft as the low-cost airline aims to meet its expansion plans to "become a 500-aircraft airline group" by the end of the decade.
A contract between Wizz Air and Airbus was signed on 14 November 2021 for the purchase of 102 additional Airbus A321 aircraft, comprising 75 Airbus A321neo aircraft and 27 Airbus A321XLR aircraft, with the bulk of delivery scheduled between 2025 and 2027.
Wizz Air will now exercise rights granted by the manufacturer last year, with delivery dates subject to an agreement between both parties.
Under certain circumstances, Wizz Air is also entitled to acquire a further 19 A321neo aircraft, and Airbus also granted Wizz Air purchase rights for an additional 75 Airbus A321neo for deliveries in 2028-29, the discount carrier said in a statement.
"We remain on track to become a 500-aircraft airline group by the end of the decade while delivering our commitment to reduce our already industry-leading CO2 emissions by 25% by 2030," said József Váradi, Wizz Air's chief executive.
Shares of the company were trading 3.01% higher at 2,085.00p.