Wizz Air expands fleet in deal worth $1 billion

Wizz Air expands fleet in deal worth $1 billion

Wizz Air is to add ten new aircraft worth more than $1 billion in a sale and lease back deal supported by Chinese finance.

Eight Airbus A320 and A321s are due to be delivered next year and in 2018, when the eastern and central European budget airline’s fleet will reach 100 aircraft.

The deal with Bank of Communications and Financial Leasing covers eight aircraft while a separate arrangement will see two aircraft enter the fleet in January and June 2017.

Wizz Air chief executive József Váradi, speaking at a signing ceremony in Beijing, said: "Wizz Air has a history and strategic interest in the Chinese financing market and we are determined to keep the close cooperation in the future as well.

“With today's announcement Wizz Air secures its fleet requirements until 2018 when Wizz's fleet will reach a significant and important milestone of 100 aircraft, while increasing the capacity by more than 30% and reinforcing Wizz's position as the leading low cost carrier in central and eastern Europe.

“As Hungary's de facto national airline we are very pleased with today's development that reinforces our goal to stay the most efficient, most productive and financially one of the best-performing airlines in Europe."

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