Wizz Air is an ultra low-cost carrier, or ULCC1, and the largest low-cost carrier in Central and Eastern Europe, or CEE2, on the basis of scheduled departing seat capacity recorded by Innovata for FY 2014 and H1 2015. Wizz Air provides low-cost air transportation services on scheduled short-haul and medium-haul point-to-point routes across Europe and into the Caucasus and the Middle East. Wizz Air was established in September 2003 and as at the end of H1 2015 operated from 21 bases in 10 CEE countries with flights to 112 destinations on over 380 routes in 38 countries. Wizz Air carried in excess of 16.5 million passengers on more than 100,000 flights in the financial year ended 31 March 2015 and as at 31 December 2014 had carried over 85 million passengers in total since the start of its operations on 19 May 2004.
1. The Company considers ULCCs to be a sub-set of low-cost carriers which distinguish themselves by using a business model with an intense focus on low-cost, efficient asset utilisation and unbundled revenue sources aside from ticket prices with multiple products or services offered for additional fees.
2. CEE is a region comprised of Albania, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia and Ukraine.