European budget carrier Wizz Air said on Monday it was using hedges to protect itself against soaring oil prices, and was looking to repatriate four aircraft currently in war-ravaged Ukraine.
Wizz Air capped its fuel-cost exposure for the next four months with zero-cost hedges, it said.
It added that since the Russian invasion, all flights originating from its Kiev, Lviv and Saint-Petersburg bases had been taken off sale. Flights from its Moldovan base have been shifted to Iasi, Romania, until May 31.
“Inbound flying to these and other destinations in Ukraine and Russia are also suspended until further notice, with flights inbound to Moldova shifted to Iasi, Romania up until 31 May 2022,” the company said.
“The company continues to await a safe evacuation window for its four Ukraine based aircraft.”
Wizz said full-year first quarter capacity for its wider network had been adjusted to grow 30% over 2019 levels and 40% over 2019 for the second quarter.
“Our commercial plan maintains a capacity mix of 65% in our core Central Europe region, 30% from Western bases and 5% from Abu Dhabi,” Wizz said.
