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The London-listed airline’s return to fuel hedging comes as the Russia-Ukraine crisis has sent fuel prices higher amid a gradual return to travel. Severe losses during the COVID-19 pandemic prompted Wizz to pause its programme.
Aviation firms across the globe, including Air France, Europe’s easyJet (LON:EZJ) and Britain’s IAG (LON:ICAG) use oil hedges to counter high oil prices.
“This (hedging) will allow us to focus on what we are best at – attracting consumers into our franchise at the lowest fares versus competition, enabled by lowest cost, operated by the youngest fleet in a fast growing region,” said Chief Executive József Váradi.
The revised policy comes a week after Wizz forecast quarterly operating loss as it suffered significant costs from cancellations and “operational hiccups” at airports, especially in the United Kingdom.
