London — Wizz Air CEO Jozsef Varadi has unveiled a two-year strategy to stabilize the low-cost airline and regain investor confidence following operational challenges and the company’s withdrawal from the Middle East.
In an interview, Varadi said the recovery plan is expected to show results by mid-2027, once the airline resolves engine-related disruptions and operational fallout from its now-defunct Abu Dhabi base.
“We need to see a drastic change of performance because by that time basically the GTF issue should be behind us,” Varadi said.
Wizz has struggled in recent years due to engine issues linked to Pratt & Whitney’s geared turbofan engines, which forced dozens of aircraft out of service. The airline also cited geopolitical challenges, including the war in Ukraine and tensions in the Middle East, as key factors affecting its expansion plans.
The Hungary-based carrier’s shares have dropped nearly 5% this year and remain significantly below pre-pandemic levels. To counter the decline, Varadi said Wizz is scaling back from high-risk markets and will refocus on its core strength—central and eastern Europe.
“We’re simplifying our network and going back to basics,” he said.
Varadi aims to boost Wizz’s market share in Central and Eastern Europe from 26% to 30% or more over the next five years, doubling capacity in the region. However, competition from rivals like Ryanair and EasyJet remains strong.
Plans for the airline’s fleet have also been revised. Of the 47 Airbus A321XLR jets on order, Wizz now expects to take delivery of only a dozen, citing performance and cost concerns. Negotiations are ongoing to adjust the remaining orders.
Despite recent challenges, Varadi emphasized that Wizz remains operational and committed to long-term growth.
“We are still standing,” he said. “It requires adjustments and actions, but I think we are taking them.”
