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Wizz Air Holdings SWOT & PESTLE Analysis

ID : 52684453| Dec 2020| 10 pages

COMPANY PROFILE -Wizz Air Holdings

Business Sector :Aviation

Operating Geography :United Kingdom, Europe

About Wizz Air Holdings :

Wizz Air Holdings Plc is a United Kingdom based airline company. It was founded in the year 2003 by József Váradi. It majorly operates through its subsidiary Wizz Air Hungary based out of Budapest. The Company being an ultra-low cost business, has its work centred around no-frills travel available for everyone, everywhere at the lowest price possible, creating equal value for all passengers while remaining conscious of the environmental responsibility it holds. It is committed to achieving the lowest cost base in the Central and Eastern Europe region. Besides its choice of airports has a crucial impact on its low cost strategy. It flies to a mix of primary, secondary and regional airports, providing friendly and fast customer service for low costs, which are reflected in Wizz fares. The company is in constant negotiations to establish a network of operations at more airports. As of 2020, the airline company has 154 airports in 45 countries with more than 4,800 aviation professionals.


Wizz Air Holding’s mission statement reads, “Offering more affordable travel opportunities to discover Europe and beyond.” Wizz was named “The Best Low-Cost Carrier of the Year in 2019.” The award was handed over at the Aviation Industry Awards Europe gala, part of Air Convention Europe 2019. The Company’s USP or unique selling point lies in its low fares and #1 position in CEE.

Wizz Air Holdings Revenue :


EUR 2,319 million – FY ending 31st March 2019 (y-o-y increase of 19.6%)
EUR 1,939 million – FY ending 31st March 2018

Competitive Analysis of Wizz Air Holdings

SWOT
PESTLE
The SWOT analysis for Wizz Air Holdings is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Industry-leading cost base and a young best-in-class fleet
2. Strong resilience against the uncertainties of Brexit outcomes
3. Strong contribution and growth from ancillary revenues
4. Rapid and robust growth in the revenue turnover
5. Intensive investments in the staff learning & development
1. High susceptibility to the political issues like the impact of French ATC strikes
2. Issues related to baggage penalties
OpportunitiesThreats
1. Digitalization of the customer journey to enhance experience
2. Diversification with respect to routes over Central and Eastern Europe
1. Potential disastrous impacts of Covid-19 on the aviation industry
2. Risks of union strikes such as the Lupton baggage handlers’ industrial action
3. Dependency on e-bookings increasing Information technology and cyber risk
4. Increasing competition in LCC segment
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Wizz Air Holdings

Strength

1. Industry-leading cost base and a young best-in-class fleet: With its continuous efforts and focus on the growing markets in Central and Eastern Europe, Wizz Air has successfully maintained its industry leadership position with respect to cost base and a young, best-in-class fleet. By establishing a base in London Luton, the company has set up its UK operating base and also strengthened its presence in Western Europe. Furthermore, the company has expanded its fleet by investing heavily and adding twelve A321ceo, five A320ceo and two A321neo aircraft, making the fleet size to 121 aircrafts as of December 2019. The world’s only one-stop airline safety and product rating agency, Airline Ratings, has awarded Wizz Air with the highest 7-star safety ranking.

2. Strong resilience against the uncertainties of Brexit outcomes: When other players in the European Air Travel industry struggling to keep up with the impacts of the uncertainties posed by a no-deal Brexit, Wizz Air has positioned itself to make the most out of the worst of the outcomes. The residents of Central and Eastern Europe are preferring to travel via Hungary-based Wizz Air, which is backed by the US private equity firm, Indigo Partners and also is a part of its low-cost carriers, owing to its affordable sales model. Moreover, to enable continuing of the flights from the UK to other non-EU countries irrespective of the Brexit outcomes, the company has received permission grant of a UK route license from the UK Secretary of State for Transport, in October 2018, which future-proofed

3. Strong contribution and growth from ancillary revenues: Since its inception in 2003, Wizz Air’s main strategic focus has been maintaining strong ancillary revenues as well as a lean low-cost operation. Moving along this strategic direction has enabled the company to show consistent growth as well as keep up its healthy net profit margins and achieve favourable cash flows. For the financial year ending on March 31, 2019, the company recognized a revenue increase of 19.6% over 2018 at 2.3 billion euros and an ancillary revenue increase of 18.1% at 953.0 million euros. Moreover, in the report named "2018 Top 10 Ancillary Revenue Rankings", Wizz Air stood at the top in the list of “% of revenue” producers, with a notable market share of 41.1% for Europe & Russia.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • easyJet
  • Flybe
  • Norwegian Air Shuttle
  • Ryanair
  • Wizz Air
  • British Airways
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References used in Wizz Air Holdings SWOT & PESTLE Analysis Report

1. Wizz Air hit by impact of Europe’s air traffic strikes - https://www.ft.com/content/da59a8d0-8ff6-11e8-b639-7680cedcc421
2. Wizz Air Sits Pretty In Growth Market As Potentially Ugly Brexit Threatens Other European Airlines - https://www.forbes.com/sites/marisagarcia/2019/07/31/wizz-air-sits-pretty-in-growth-market-as-potentially-ugly-brexit-clouds-europes-airlines/#4e13ca967279
3. Ryanair and Wizz Air hit fines over 'non transparent' baggage policies - https://www.swotandpestle.com/wp-admin/post.php?post=6830&action=edit
4. Wizz Air takes coronavirus action - https://www.yorkshirepost.co.uk/business/wizz-air-takes-coronavirus-action-2063632
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Wizz Air Holdings SWOT and PESTLE analysis has been conducted by Anindya Anindita and reviewed by senior analysts from Barakaat Consulting.

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