Wizz Air’s CEO, József Váradi, has firmly rejected bankruptcy claims made by Ryanair’s chief, Michael O’Leary. He cited strong fuel hedging and operational stability as key strengths for the airline amidst rising fuel prices.
As of early Tuesday, Wizz Air has hedged 70% of its fuel needs for the summer season. This strategic move allows the airline to pay just $700 per metric ton of jet fuel, significantly lower than the market price of around $1,700.
Váradi emphasized that Wizz Air does not anticipate running out of jet fuel. He stated, “I don’t think we’re going to be running out of fuel.” The airline plans a summer schedule that is expected to be 17% larger than last year.
In contrast, O’Leary suggested that if oil prices remain high, two or three European airlines could face bankruptcy. He specifically mentioned Wizz Air as a potential candidate for such a fate.
Wizz Air’s CCO, Ian Malin, provided further insight into their fuel strategy. He reported that the carrier has hedged 86%, 71%, and 61% of its fuel needs for Q1, Q2, and Q3 of 2026 respectively.
The ongoing conflict in Iran has disrupted supplies in the Strait of Hormuz, causing instability in the oil market. This situation has heightened concerns across the airline industry regarding operational costs.
Despite these challenges, Wizz Air maintains a liquidity ratio higher than Ryanair’s with approximately €2 billion in cash reserves. Observers note that while uncertainty looms over future fuel prices and their impact on operations, Wizz Air appears well-positioned at this moment.
