Wizz Air cancels London IPO plans
The Hungarian low-cost airlines company Wizzair said it would cancel plans to list its shares on the London Stock Exchange today.
Almost one month after announcing plans for their initial public offering, Wizz Air decided to hold off on its entry to the London Stock Exchange, citing the current volatility on the market as the reason for the decision.
Wizzair, the largest budget airline in Central and Eastern Europe, was looking for investment capital, but decided against the move at a time when many airline stocks are falling.
“The outlook for Wizz Air's business remains extremely positive and unaffected by the decision not to proceed with an IPO,” a statment from the company said.
As evidence of this growth, the company announced that it has just purchased an eighth aircraft for its fleet in Budapest and launched flights to a new destination, Alicante, Spain. “The new flight fills a real customer demand to have access to the South-Mediterranean area of Spain in the summer," said Kam Jandu, CCO of Budapest Airport.
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