Is Wizz Air buying EasyJet?

LONDON, Sept 9 (Reuters) - EasyJet (EZJ. L) has rejected a takeover approach from Wizz Air that would have created a low-cost airline to rival Ryanair, opting instead to raise $1.7 billion from shareholders and go it alone in an industry battling to recover from the pandemic.



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Who owns easyJet? easyJet was founded by Stelios Haji-Iannou. He and his siblings remain the biggest easyJet shareholders although the company has floated its shares on the LSE.

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EasyJet - Outshining Ryanair in Three Key Aspects When it comes to pros, EasyJet holds a significant edge over its major rival, Ryanair, in three crucial areas: carry-on allowance, flight departure times, and overall comfort. Firstly, EasyJet provides its customers with greater freedom regarding carry-on policies.

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From a business standpoint, Wizz Air, like other low-cost carriers, has a model based on economies of scale. Rather than taking a large profit from each traveler, the airline takes a smaller profit while carrying more passengers. This is why you won't find a premium cabin on any of Wizz Air's all-economy planes.

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Wizz Air is forecasting net profit of up to €450 million ($485 million) in the 2023-24 financial year, following a loss of €535 million in 2022-23. Over the next year the airline plans to grow its fleet from 179 to 205 aircraft. Over the same period its share of Airbus neo aircraft is set to grow from 49% to 63%.

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Punctuality: In all my experiences (knock on wood), I've never experienced a Wizz Air cancellation or even flight delay. I've heard from others that this was NOT the case for them, but from my multiple experiences, flights have always been punctual.

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A graphic of Wallethub's 2023 airline ranking. In terms of other key findings, Delta Air Lines was named the most reliable airline, while the least reliable was Frontier Airlines.

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Wizz Air operates short-haul flights from eight UK airports including Birmingham, Edinburgh, Gatwick and Luton. The airline's overall customer score of 48% put it at the bottom of the ranking, below Ryanair (52%), Eurowings (53%) and British Airways (56%).

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Ultra-low-cost carrier (ULCC) Wizz Air is expecting its capacity to be reduced next year due to a global issue with Pratt & Whitney-manufactured engines. It comes after the Budapest, Hungary-based airline canceled some flights this month and expects to cancel more next month due to the engine problems.

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EasyJet cancels thousands of flights this summer due to congestion in Europe's skies. The airline denied that it was a return to the chaos seen last summer due to staff shortages.

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Total debt on the balance sheet as of March 2023 : $4.51 B.

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