Solution
Ishika answered on
Dec 21 2021
Introduction
Wizz Air is one of the most popular airlines in Europe and legally incorporated by the name Wizz Air Hungary Ltd. It is a Hungarian airline best known for its low fares. Company established in September 2003 in Budapest and today serves around 44 cities covering entire Europe as well as Middle East and North Africa. Wiz Air has the largest fleet of aircrafts in Hungary. Parent company of Airlines is American based, Jersey and is listed on stock exchange in London and is an integral component of FTSE 250 index. By the year 2018, the Wizz Air airline has its largest base at Budapest with more than 70 destinations. In the year 2018, airline has transported more than 33.8 million passengers.
History
Wizz Airline was established in September 2003 and one of the primary investor in the organization is Indigo Partners which is an private equity company in American that specializes in transportation. Very first flight was made from Katowice Airport on May 19, 2004. Present CEO of airline is Jozsef Varadi, who is an influential personality in tourism industry. Wizz Air fulfils a special demand of low-cost ca
ier.
Milestones
Significant milestones in the progress, advancement and development of company since its first flight was included
FY 2005
· After the launch and end of first year, Wizz Air Company had successfully established its bases in Hungry and Poland. They had also started flying operations to other European countries like Greece, Belgium, Italy, France, Germany, Spain, United Kingdom and Sweden covering 36 routes by 2005
· Catering is on-board in the aircraft, hotel bookings, services like car rental and agents of airport were provided ancillary services.
· 1 million passenger were successfully ca
ied and Wizz Air had 6 aircraft in the fleet at the end year.
FY 2006
· Wizz Air had established its third base in Gdansk in Poland
· First order of the organization was made with Ai
us to acquire 12 A320 aircraft
· Around 2.1 million passengers were ca
ied and Wizz Air had eight aircraft in the fleet at the end of yea
FY2007
· Wizz Air established in Bulgaria, with a mission to join EU in January 2007. After that Wizz Air started operating in Croatia, Netherland and Romania, making the number of operated routes to 64 at the end of the year.
· Second order was provided to Ai
us to further purchase 20 A320 aircraft
· Another facility of priority boarding was launched as an extra ancillary service
· Number of passengers ca
ied were 3.1 million and Wizz Air had 10 aircraft in its fleet
FY2008
· In this year, base expanded in Romania as well and company was able to cover Norway, operating around 86 routes at the end of the year.
· There was third order that was placed with Ai
us to purchase 50 more aircraft A320
· Multiple cu
ency pricing, travel insurance products and extra legroom were few of the additional services that were launched
· Number of passengers ca
ied were 4.6 million and company had 17 aircraft in its fleet at the end of the year.
FY 2009
· Company expanded in Ukraine in summers of July in 2008. Air Wizz was country's very first low-fare ca
ier and base established in Kiev. Company initiated flying to Finland and successfully operated 124 routes at the end of year.
· Number of passengers successfully ca
ied were 6.2 million and company had badged 22 aircraft in its fleet at the end of the yea
FY 2010
· Another base was opened by Wizz Air in Prague, in Czech Republic and company started its operation of flying to Latvia.
· Fourth successful order was placed with Ai
us in order to acquire more aircraft of A30
· Wizz Air had also launched their co-
anded credit card in Hungry that followed similar initiatives in Romania and Poland
· Number of passengers that were successfully ca
ied was around 8.2 million and company had 30 aircraft in its fleet at the end of the yea
FY 2011
· Company successfully expanded its operations in Turkey and Se
ia, managing the total of 194 routes at the end of 2011, thereby opening the base in Belgrade
· New head office of Wizz Air was successfully built in city Geneva, Switzerland
· Option of check-in available online was also provided and subsequent charges were levied for the check-in in airport
· Number of passengers that were successfully ca
ied this year were 9.8 million and company had 35 aircraft in the fleet at the year end.
FY 2012
· Another base of Wizz Air was established in Vilnius in Lithuania and the company started operations in the country to Cyprus, handling the routed of 217 routes annually.
· Loyalty programme was launched by the company called as Wizz Exclusive Club which was the predecessor to the Wizz Discount Clu
· Another initiative by the virtue of which first two seats used to be sold was also started known as Wizz Reserved Seat
· Number of passengers successfully ca
ied was 11.3 million and company had around 36 aircrafts in the fleet at year-end
FY 2013
· Growth of company continued as they expanded in Macedonia and started the air operations to Israel, Georgia, Switzerland and Slovenia. Total number of routes managed by the country was 233
· A new initiative of cabin baggage was launched. Wizz Air became the first airline to levy extra charge for large baggage in cabin
· Wizz Discount Club was re-
anded and launched again as new loyalty programme
· Technology advancements were leveraged as Wizz Air introduced mobile channels for booking air tickets; This application was supportive with any operating system like iOS and Android mobile such that it could provide more convenience to its customers and at the same time could capture the target audience.
· Number of passengers successfully ca
ied was around 12.3 million and company had around 40 aircrafts in the fleet at year end
FY 2013 -till 2017
· Wizz Air continued on its momentum and established its base in Ukraine, Latvia, Romania, Slovakia, UK and Bulgaria covering the air operations in lot of cities
· Air Wizz introduced marketing of their Wizz Tour holiday packages which was a booking platform initiated the sales in Oct, 2013
· All the passengers that were members of Wizz Discount Club were given discounts and free of baggage charges
· Furthermore, layers of membership were created to categorize the customers in Wizz Discount club based on number of passengers. Therefore, couple passengers (2 people) were given standard membership while group up to a number 6 were given group membership.
· New destinations were also included like Belfast, Denmark, Egypt, Lisbon, Se
ia and Italy
· In 2015, Air Wizz had successfully completed its first IPO - Initial Public Offering with a premium listing of its share on LSE - London Stock Exchange
· Tremendous growth of the airline over the year required skilled pilots therefore, launched the Cadet Pilot programme such that they used to train the new recruits for flying their growing fleet.
· Company reached the milestone of successfully ca
ying around 100 million passengers
· One of the functions of the company that was outsourced before -online tour operator business unit called as Wizz Tour was
ought in house
· Air Wizz became the second largest airline that was operating from London connecting Bucharest with both the South London and South England areas
· Company won a public tender process that was issued by the Hungarian state such that it launched five routes between Budapest and Western Balkans
· Launch of new website across the platforms such that Air Wizz became the first airline to introduce the function of three click express booking for all the registered customers of the company.
· Wizz Air was nominated for the best airlines and received the award for the Low Cost Airline of the Year from CAPA, one of the acclaimed and leading aviation consulting organization. Air Wizz was also crowned by Air Transport World as Value Airline of the year 2016.
FY 2018 and present
· Recently the company...