József Váradi, the chief executive of Wizz Air Holdings Plc, has set an ambitious two-year timeline to transform the Hungarian low-cost carrier, aiming to restore investor confidence and operational stability by mid-2027.
Váradi has outlined a strategic overhaul to address a series of setbacks, including a failed Middle East expansion and severe engine issues that grounded dozens of aircraft. The airline, which saw its shares plummet 35pc in 2024 and an additional 4.6pc this year, is refocusing on its core Central and Eastern European markets, streamlining its network, and tackling operational challenges to emerge as a leaner, more competitive player in Europe’s crowded aviation sector.
The reform plan centres on resolving the fallout from Pratt & Whitney’s geared turbofan (GTF) engine defects, which forced Wizz Air to ground 42 aircraft for inspections by the end of its 2025 fiscal year, with an estimated 34 planes still out of service by mid-2026.
Váradi anticipates these issues will be resolved by mid-2027, allowing the airline to restore full fleet capacity. The carrier’s retreat from its Abu Dhabi venture, dissolved last month, marks a shift away from high-risk expansions, with stranded planes in the UAE now being redeployed. Wizz Air is also scaling back its order of 47 Airbus A321XLR long-range jets, planning to use only about a dozen for routes like London to Saudi Arabia, while converting others to standard A321neos and negotiating delayed deliveries with Airbus until 2032.
Váradi’s strategy includes doubling Wizz Air’s capacity in Central and Eastern Europe over the next five to six years, targeting a market share increase from 26pc to at least 30pc. This involves expanding regional airport operations and boosting tourism to destinations like Albania’s coast and Romania’s Transylvania region, capitalising on faster GDP growth in the east compared to Western Europe’s higher taxes and slower markets. The airline, which carried 63.4m passengers in 2025, reported a net profit of £213.9m, down 41.5pc from the previous year, but achieved £5.3bn in revenue. Váradi emphasised operational simplification, ruling out mergers or acquisitions to avoid complexity during this critical turnaround period.
The reforms also address sustainability, with Wizz Air launching its “Flying Towards Net Zero” roadmap on 7 August 2025, focusing on fleet renewal for 30pc emissions reductions, scaling sustainable aviation fuel (SAF) for 53pc reductions, and modernising air traffic management for a 4pc cut. Despite these ambitions, challenges persist, including geopolitical tensions like the Ukraine war and Middle East conflicts, which have restricted airspace and increased costs. Investors remain cautious, with shares trading at a third of their pre-Covid levels, but Váradi insists Wizz Air is “still standing” and poised for recovery. The CEO’s roadmap, prioritising efficiency and regional dominance, aims to deliver sustainable growth, with the World Aviation Festival in September 2025 expected to shed further light on progress.
