WIZZ AIR HOLDINGS PLC - RESULTS FOR THE THREE MONTHS TO 30 JUNE 2026

F27 Q1 - ABSORBING COST PRESSURE AND HIGH GROWTH, WITH REVENUE RESILIENCE INTO SUMMER

LSE: WIZZ

Geneva, 6 August 2026: Wizz Air Holdings Plc ("Wizz Air", "the Company" or "the Group"), one of the most sustainable European airlines, today issues unaudited results for the three months to 30 June 2026 ("first quarter", "Q1" or "Q1 F27").

¹    Aircraft at end of period includes 3 aircraft in Ukraine.

²    For further definition of measures presented refer to "Alternative performance measures (APMs)" section of this document. In addition to marked APMs, other measures presented above incorporate certain non-financial information that management believes is useful when assessing the performance of the Group. For further details refer to "Glossary of terms" section of this document.

³    Comparative figure is total cash balance as at 31 March 2026. Total cash is a non-statutory financial performance measure and comprises cash and cash equivalents (30 June 2026: €1,849.2 million; 31 March 2026: €1,085.9 million), total current and non-current cash deposits (30 June 2026: €281.1 million; 31 March 2026: 952.8) and total current and non-current restricted cash (30 June 2026: €81.9 million; 31 March 2026: €87.7 million).

⁴    Comparative figure is net debt balance as at 31 March 2026.

⁵    n.m.: not meaningful as a variance is more than (-)100 per cent.

Q1 release highlights include:

▶Strong traffic growth with ASKs up 15% YoY, while seat capacity and passengers were both up 25% YoY

▶RASK down 8% YoY, reflecting significant growth in the period, while ex-fuel CASK was down circa 2%

▶F27 jet-fuel is 76% hedged with a cap of US$819/MT. H1 F28 is 39% hedged with a cap of US$864/MT

▶Strong cash position of €2.21bn. Liquidity ratio at 37%, one of strongest in industry

▶Current trading indicating Q2 RASK down low single digits (supported by stage length reduction), notwithstanding unprecedented capacity growth

József Váradi, Wizz Air Chief Executive Officer commented:

"The Company is continuing to focus on its unit cost performance relative to the market, as well as delivering high growth throughout H1 F27 with high revenue resilience in peak summer.

The industry has been extremely volatile over the June quarter due to conflict in the Middle East, elevated fuel prices, and changes in booking patterns. While we reported a net loss for this period, which reflects in particular the 21% rise in unit fuel costs, we operate the business with a strong balance sheet, more than €2 billion of cash and a liquidity ratio of 37%, which is amongst the strongest in the industry.

We achieved some notable success in the quarter, with a 25% year-on-year increase in passengers carried, underlining the scale of our expanding network and the continued high demand for affordable, convenient air travel across Europe and beyond. Operational efficiency also improved with OTP (A15) up 3.6ppts YoY to 82.7% and the completion rate up 75bps to 99.9%. This growth is also beginning to feed through to our ex-fuel cost lines, with improved airport and labour unit costs in the quarter particularly pleasing to see.

We are seeing continued momentum in the business as we recover aircraft from GTF-related groundings and reallocate capacity to our most attractive European markets. The number of grounded aircraft is reducing and our plan to return the affected fleet to service by the end of calendar 2027 remains on track.

We are focused on strengthening the core network, improving density and reallocating flying from longer-haul Middle Eastern operations into shorter European sectors. This supports higher sector productivity, creates more attractive schedules for customers, improves network integrity, and delivers incremental growth at a lower cost.

While we continue to see the build-up of forward bookings, the rest of the year is expected to present both industry challenges and strategic opportunities. Wizz Air is well positioned, with a strong liquidity position, a modern and efficient fleet, and a disciplined approach to capacity deployment.

We will continue to manage the business for profitability while remaining ready to take advantage of market opportunities that may arise as supply and demand rebalance across Europe."

Q2 OUTLOOK

The near-term outlook is summarised as follows:

▶Capacity:       Q2 ASKs up circa 20% YoY, seats up high twenties percent

▶Load factor:   H1 Flat YoY

▶RASK:     Q2 RASK down low single digits (supported by stage length reduction), notwithstanding unprecedented capacity growth

▶CASK:           Q2 fuel CASK up mid-to-high single digits (based on current market prices)

H1 ex-fuel CASK up low single digit YoY

COMMERCIAL AND NETWORK HIGHLIGHTS

Wizz Air announced the opening of Spanish operating bases in Valencia, Madrid and Santiago de Compostela. From the upcoming winter season it will permanently base five aircraft in Spain, launch 15 new domestic and three new international routes. The base opening establishes the foundation for further Spanish market growth and comes on top of the existing capacity of 30+ aircraft that serve the market on an inbound basis. Additionally, Wizz Air announced the opening of a base in Pristina, Kosovo, from November of this year.

Wizz Holidays, a new AI powered travel platform, was recently launched where customers can book flights, accommodation and transfers, all in one place. Earlier in June, Wizz Air reached an agreement with Starlink to roll out their satellite internet connectivity across Wizz Air's flight from January 2027. This makes Wizz Air the first European ultra-low-cost carrier to offer advanced in-flight internet technology to millions of travellers.

GTF ENGINE UPDATE

As of 30 June 2026, Wizz Air had 27 aircraft grounded due to GTF engine-related inspections; showing an improvement compared to last year when the grounded fleet comprised 41 aircraft. GTF engine-related groundings expected at the end of F27 are in the range of 15-20 aircraft with this figure reducing to 0 by the end of calendar year 2027.

GEOPOLITICAL CRISES

Our exposure to the Middle East region was limited and mostly focused on Israel. Most of this capacity was immediately redeployed to our core CEE markets, improving the existing summer season products to destinations in Spain, Italy, Croatia, Albania and others. We continue to monitor closely the situation on the ground in the Middle East and in Ukraine. On 28 of May we resumed flights to Tel Aviv from most of our CEE bases.

FLEET DEVELOPMENT

▶In the three months ended 30 June 2026 Wizz Air took delivery of 8x new A321neo aircraft, and 2x new A321neo XLRs. During the same period 2x A320ceo aircraft were redelivered, ending the period with a total fleet of 270 aircraft: 24x A320ceo, 40x A321ceo, 6x A320neo, 191x A321neo and 9x A321neo XLRs.

▶New aircraft deliveries were financed using a combination of sale and leaseback and financial lease transactions, with lease terms averaging nine years, before lease extension options.

▶The average age of the fleet as of 30 June 2026 stood at 4.6 years, making it the youngest fleet of any major European airline, while the average number of seats per aircraft was 231.

▶The share of new "neo" aircraft within Wizz Air's fleet has increased to 78 per cent.

▶As of 30 June 2026, Wizz Air's delivery pipeline comprised a firm order for 242x A321neo and 2x A321XLR aircraft, a total of 244x aircraft.

▶The table below shows our fleet plan development according to the revised delivery schedule:

FINANCIAL UPDATE

▶The Company's cash position at the end of June 2026 was €2,212.2 million, a 4.0 per cent increase vs 31 March 2026. Over the same period liquidity ratio increased to 36.9 per cent compared to 35.8 per cent.

▶Net debt at 30 June 2026 was €5,134.5 million vs €4,941.5 million at 31 March 2026, due to the delivery of 10 aircraft, while the Company's leverage ratio (net debt to EBITDA) increased to 4.4x compared to 3.7x at F26 year-end.

▶As of 29 July 2026, using jet fuel zero-cost collars, Wizz Air has accumulated hedge coverage of 73 per cent of its jet fuel needs for the Q2 to Q4 period at a price of $759/826 per metric tonne (equivalent to 76% hedged for the whole of the fiscal year). For F28 the coverage is 23 per cent at a price of $778/870 per metric tonne, but with cover of 39% for the first half of next year in a range of $776/864. The EUR/ USD FX coverage stands at 69 per cent for the Q2 to Q4 period at $1.1586/$1.1945 rates (equivalent to 71% hedged for the whole of the fiscal year); for F28 it is at 22 per cent at $1.1720/$1.1985 rates, but with cover of 35% for the first half of the year in a range of $1.18/$1.20. From beginning of F26 the Company has been hedging USD currency exposure on its lease liabilities. As of 30 June 2026, Wizz Air had 96 per cent of $4.6 billion USD lease liability hedged using a blend of USD cash deposits, and cross currency swaps (average EUR/ USD rate of 1.13).

▶Fitch affirmed Company's BB rating with a Stable Outlook on 16 June 2026. Moody's Investor Services, on 19 June 2026, lowered the rating from Ba2 to Ba3, with the outlook revised to Stable. Whilst Moody's highlighted Wizz Air's leading positions in its core CEE markets, competitive cost base, young and efficient fleet, solid hedging position and strong liquidity, the change reflected weaker-than-expected FY2026 profitability and elevated leverage arising from GTF-related operational inefficiencies, higher fuel costs and broader operating cost pressures.

▶The balance of EU emissions trading scheme credits repurchase agreement increased by €22.8 million, from €284.7 million to €307.5 million. In addition, UK emissions trading scheme credits repurchase agreement amounted to £22.6 million. The inventories must be repurchased from the counterparties by September 2027 and December 2027, respectively.

ESG UPDATE

▶As of 30 June 2026, the 12 month rolling CO2 emissions per passenger kilometre was at 50.2 grams (vs 51.7 grams last year), representing a 2.9 per cent year-on-year improvement.

▶In June 2026 Wizz Air was named Most Sustainable Company in the European Low-Cost Airline Industry at the World Finance Sustainability Awards for the sixth consecutive year.

▶As of 30 June 2026 the share of Wizz Air issued share capital held by Qualifying Nationals (i.e. European Economic Area nationals), was 44 per cent, which, based on the disenfranchisement policy that Wizz Air Board last applied for August '26 AGM, would entitle them to 55 per cent of total voting rights, leaving Non-Qualifying Nationals with the remaining 45 per cent of total voting right.

PEOPLE UPDATE

In July Company announced following changes to senior leadership team:

▶Jingyuan Sun was appointed as Chief Technical Officer, effective from 1 October 2026. She brings over 18 years of experience in international aviation across a range of maintenance, technical and commercial roles. She joins Wizz Air from SR Technics Switzerland.

▶Michael Delehant, Group Managing Director, has decided to leave the Company with effect from 31 July 2026 to pursue opportunities outside the organisation. Michael joined Wizz Air in summer of 2021 and has played an important role in building and strengthening the organisation during that time.

DETAILS OF RESULTS MEETING

Wizz Air's management will host a live webcast presentation for analysts and institutional investors on the day at 09:30 BST.

Participants can register for the webcast here: https://sparklive.lseg.com/WizzAirHoldings/events/6721cec9-f05d-4924-83ed-ebd820002585/wizz-air-f27-q1-results.

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ABOUT WIZZ AIR

Wizz Air operates a fleet of 269 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 69.7 million passengers in 2026 financial year. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. In 2025, Wizz Air topped the major airlines' emissions ranking, as presented by Cirium, an aviation analytics company, thanks to its work reducing emissions intensity. It was awarded Sustainable Airline of the Year 2025 at the Airline Economics Sustainability Awards Gala in September 2025. Wizz Air has also been recognized as the "Most Sustainable Low-Cost Airline" for six years running between 2021-2026 by World Finance Sustainability Awards.

For more information:

Investors:

Mark Simpson, Wizz Air                        

Zlatko Custovic, Wizz Air                        [email protected]

Media:

Andras Rado, Wizz Air                            [email protected]

James McFarlane / Eleni Menikou / Charles Hirst, MHP Group        [email protected]

Certain information provided in this Press Release pertains to forward-looking statements and is subject to significant risks and uncertainties that may cause actual results to differ materially. It is not feasible to enumerate all the factors and specific events that could impact the outlook and performance of an airline group operating across Europe, the Middle East, and beyond, as Wizz Air does. Some of the factors that are susceptible to change and could notably influence Wizz Air's anticipated results include demand for aviation transport services, fuel costs, competition from both new and established carriers, availability of Pratt & Whitney GTF engines, turnaround times at Engine Shops, expenses related to environmental, safety, and security measures, the availability of suitable insurance coverage, actions taken by governments and regulatory agencies, disruptions caused by weather conditions, air traffic control strikes, revenue performance and staffing issues, delivery delays of contracted aircraft, fluctuations in exchange and interest rates, airport access and fees, labour relations, the economic climate within the industry, passengers' inclination to travel, social, and political factors, including global pandemics, and unforeseen security incidents.

Q1 FINANCIAL REVIEW

In the first quarter, Wizz Air carried 21.2 million passengers, a 25.1 per cent increase compared to the same period in the previous year and generated revenues of €1,507.4 million, 5.5 per cent higher year-on-year. These compare to capacity measured in terms of ASKs being higher by 14.9 per cent, and seats being higher by 25.4 per cent. The load factor slightly decreased by 0.2 per cent to 90.9 per cent. The reported net loss for the first quarter was €198.2 million, compared to a net profit of €38.4 million in the same period of F26, due to higher fuel and depreciation unit costs, lower RASK and a foreign exchange loss.

Summary statement of comprehensive income (unaudited)

For the three months ended 30 June

*    n.m.: not meaningful as a variance is more than (-)100 per cent.

Revenue

Passenger ticket revenue increased by 1.0 per cent to €806.9 million and ancillary (or "non-ticket" revenue)  increased by 11.3 per cent to €700.5 million year on year, with a 14.9 per cent higher operated capacity in terms of ASKs and a slightly decreased load factor by 0.2 per cent. Total revenue per ASK (RASK) decreased by 8.1 per cent to €4.05 cents from €4.41 cents, with ticket RASK down by 12.1 per cent to €2.17 cents and ancillary RASK down by 3.1 per cent to €1.88 cents year-over-year.

Operating expenses

Operating expenses for Q1 F27 increased by 20.7 per cent to €1,690.7 million from €1,400.7 million in Q1 F26 mainly due to the year-on-year capacity and fleet growth. Total cost per ASK (CASK) increased by 5.1 per cent to €4.69 cents in Q1 F27 from €4.46 Euro cents in Q1 F26, driven by fuel market price surge, lower stage length and higher depreciation linked to CEO redeliveries, which was partly offset by savings on flight disruption costs, increase in engine sale and lease back transactions and significantly lower wet-leased aircraft operation.

Depreciation and amortisation is negatively impacted by the redelivery of the CEO fleet and the growing portion of NEO aircraft.

Staff costs increased by 13.5 per cent to €178.0 million in Q1 F27, up from €156.8 million in Q1 F26, reflecting higher headcount in line with the growing capacity.

Fuel expenses increased by 39.4 per cent to €610.5 million in Q1 F27, from €438.1 million in Q1 F26 reflecting 87 per cent higher fuel market prices and increased capacity. The market price impact was partially offset by gains on fuel hedges, a benefit from foreign exchange movements (stronger average EUR/USD) and efficiency benefit from improved fuel consumption due to the growing share of A321neo aircraft within the fleet.

Distribution and marketing costs increased by 9.1 per cent to €40.6 million in Q1 F27 from €37.2 million in Q1 F26 reflecting targeted brand-building investments in core markets as well as higher distribution costs in line with increased sales over the period.

Maintenance, materials and repair costs increased by 17.3 per cent to €130.0 million in Q1 F27 compared to €110.8 million in Q1 F26. The increase was primarily driven by higher end-of-lease and base maintenance costs associated with the phase-out of the CEO fleet. Maintenance costs were further impacted by higher fleet size and contractual price escalations. These increases were partially offset by lower repair and materials related spending.

Airport, handling and en-route charges increased 15.8 per cent to €444.3 million in Q1 F27 versus €383.7 million in Q1 F26 driven by continued capacity expansion and passenger growth, partly offset by favorable route mix and pricing-related benefits.

Depreciation and amortisation charges increased by 21.3 per cent in Q1 F27 to €330.7 million, from €272.7 million in Q1 F26. The increase is mainly driven by the continued expansion of the NEO fleet, resulting in higher right-of-use asset depreciation and by the increased maintenance related depreciation related to the number of CEO redeliveries.

Other expenses amounted to €63.8 million in Q1 F27, compared to  €99.0 million in the same period of last fiscal year. The decrease was primarily driven by significantly lower flight disruption and compensation costs (€9.0 million in Q1 F27 versus €34.0 million in Q1 F26) due to improved operational performance across the network. Additionally, lease expenses decreased to €5.8 million in Q1 F27 versus €11.0 million in Q1 F26), company-related overhead expenses declined to €22.9 million in Q1 F27 versus €29.3 million in Q1 F26, and crew related logistics and training expenses increased to €21.7 million in Q1 F27 from €20.4 million in Q1 F26.

Other income amounted to €107.2 million in Q1 F27, compared to income of €97.6 million in Q1 F26. The increase was primarily driven by higher sale and leaseback activity in the period. These favorable items were partly offset by lower  compensation from Pratt & Whitney, due to fewer GTF engine inspection related grounded aircraft (27 in Q1 F27 from 38 in Q1 F26).

Financial income amounted to €22.0 million in Q1 F27, compared to €17.7 million in Q1 F26 due to higher interest income realized driven by a combination of higher short-term deposit rates, higher average cash balance and an increased proportion of U.S. dollar-denominated cash holdings during Q1 F27.

Financial expenses amounted to €76.0 million in Q1 F27 compared to €61.8 million in Q1 F26 in line with the continued fleet growth, partially offset by the repayment of the corporate bond.

Net foreign exchange loss, excluding the impact of derivative financial instruments amounted to €15.6 million in Q1 F27, compared to a gain of €154.5 million in Q1 F26 primarily reflecting the adverse movements in the EUR/USD exchange rate which was partially mitigated through cross currently swaps.

Income tax was a credit of €53.7 million (Q1 F26: an expense of €9.6 million). The P&L impact was primarily driven by the reported net loss and an increase in the effective tax rate compared to Q1 F26.

Net loss for the three months ended on 30 June 2026 was €198.2 million compared to a profit of €38.4 million in the same period of the last year.

OTHER INFORMATION

1. Cash

Total cash (including cash and cash equivalents, current and non-current restricted cash and current and non-current cash deposits) at the end of the first quarter was €2,212.2 million, of which €2,130.3 million is free cash. This represents an increase of 4.0 per cent vs the past quarter.

2. Hedging position

Wizz Air operates under a clear set of treasury policies approved by the Board and supervised by the Audit and Risk Committee. The hedges under the Hedging Policy are rolled forward quarterly, 18 months out, with coverage levels over time reaching indicatively between 70 to 95 per cent for the first quarter of the hedging horizon and 20 to 45 per cent for the last quarter of the hedging horizon. Hedging instruments are zero cost collars mostly but also Jet Fuel swaps are used for shorter dated exposures. In line with the Hedging Policy, Wizz Air also hedges its fuel consumption-related US Dollar exposure in a similar fashion. Hedge coverages as of 29 July 2026 are set out below:

Fuel hedge coverage

*    As per rolling 18-months policy 9 months are covered in F28.

Foreign exchange hedge coverage

*    As per rolling 18-months policy 9 months are covered in F28.

Sensitivities

Pre-hedging, a $10 (per metric ton) movement in the price of jet fuel impacts the F27 (9months) fuel costs by $17.7 million.

One cent movement in the EUR/USD exchange rate impacts the F27 (9months) operating expenses by €18.6 million.

Balance sheet risk mitigation

Wizz Air is using USD cash and standard EUR USD cross currency swaps to mitigate the profit & loss impact coming from balance sheet revaluation of USD liabilities. As of 30 June 2026 we had c. $4.6bn USD lease liability, c. $4.4bn across USD cash and cross currency swaps, therefore uncovered portion was c.$0.2bn.

3. Fully diluted share capital

The figure of 127,904,366 should be used for the Company's theoretical fully diluted number of shares as at 30 June 2026. This figure comprises 103,483,617 issued ordinary shares and 24,246,715 new ordinary shares which would have been issued if the full principal of outstanding convertible notes had been fully converted on 30 June 2026 (excluding any ordinary shares that would be issued in respect of accrued but unpaid interest on that date) and 174,034 new ordinary shares which may be issued upon exercise of vested but unexercised employee share options.

4. Ownership and Control

To protect the EU airline operating license of Wizz Air Hungary Ltd and Wizz Air Malta Ltd (subsidiaries of the Company), the Board has resolved to continue to apply a disenfranchisement of Ordinary Shares held by non-EEA Shareholders in the capital of the Company. This will continue to be done on the basis of a "Permitted Maximum" of 45 per cent pursuant to the Company's articles of association ("the Permitted Maximum"). In preparation for the 2026 Annual General Meeting (AGM), to be held on the 5 August 2026 the Company sent a Restricted Share Notice to Non-Qualifying registered Shareholders, informing them of the number of Ordinary Shares that will be treated as Restricted Shares.

▶a "Qualifying National" includes: (i) EEA nationals, (ii) nationals of Switzerland and (iii) in respect of any undertaking, an undertaking which satisfies the conditions as to nationality of ownership and control of undertakings granted an operating licence contained in Article 4(f) of Regulation (EC) No. 1008/2008 of the European Commission, as such conditions may be amended, varied, supplemented or replaced from time to time, or as provided for in any agreement between the EU and any third country (whether or not such undertaking is itself granted an operating licence); and

▶a "Non-Qualifying National" includes any person who is not a Qualifying National in accordance with the definition above.

5. Key statistics

For the three months ended 30 June

*        Aircraft at end of period in Q1 F27 includes 27 grounded aircraft due to GTF engine inspections and 3 aircraft in Ukraine.

** Operating aircraft figures in Q1 F27 exclude 27 grounded aircraft due to GTF engine inspections and 3 aircraft in Ukraine.

6. Cost per available seat kilometers (CASK)

For the three months ended 30 June

ADDITIONAL INFORMATION

1. Alternative performance measures (APMs)

Alternative performance measures are non-IFRS standard performance measures aiming to introduce the Company's performance in line with management's requirements. The existing presentation is considered relevant for the users of the financial statements because: (i) it mirrors disclosures presented outside of the financial statements; and (ii) it is regularly reviewed by the Chief Operating Decision Maker for evaluating the financial performance of its single operating segment.

Ancillary revenue: generated revenue from ancillaries (including other ancillary revenue-related items). Rationale - Key financial indicator for the separation of different revenue lines.

Average capital employed: average capital employed is the sum of the annual average equity and interest-bearing borrowings (including convertible debt), less annual average cash and cash equivalents, and short-term cash deposits. Rationale - This key financial indicator is integral for evaluating the profitability and effectiveness of capital utilisation.

Calculation: average equity+interest-bearing borrowings (including convertible debt)-cash and cash equivalents-short-term cash deposits.

Earnings before interest, tax, depreciation and amortisation (EBITDA): EBITDA represents the profit or loss before accounting for net financing costs or gains, income tax expenses or credits, and depreciation and amortisation. Rationale - This measure serves as a key financial indicator for the Company, providing insights into operational profitability.

Calculation: operating profit/(loss)+depreciation and amortisation.

EBITDA margin %: EBITDA margin % is computed by dividing EBITDA by total revenue in millions of Euros. Rationale - This metric presents EBITDA as a percentage of total net revenue and offers valuable financial insights for the Company's performance assessment.

Calculation: EBITDA/total revenue (€ million)*100.

Leverage ratio: leverage ratio is computed by dividing net debt by the last twelve months' EBITDA. Rationale - It serves as a crucial key financial indicator for the Group, facilitating an assessment of the organisation's financial leverage and debt management.

Calculation: please see the table below.

Liquidity: liquidity represents cash, cash equivalents and cash deposits, expressed as a percentage of the last twelve months' revenue. Rationale - This key financial indicator offers a comprehensive view of the Group's cash position and financial stability.

Calculation: please see the table below.

Net debt: net debt is defined as interest-bearing borrowings (including convertible debt) less cash and cash equivalents. Rationale - plays a pivotal role as a key financial indicator, offering valuable information regarding the Group's financial liquidity and leverage position.

Passenger ticket revenue: generated revenue from ticket sales (including other ticket revenue-related items). Rationale - Key financial indicator for the separation of different revenue lines.

Total cash: non-statutory financial performance measure and comprises/is calculated from cash and cash equivalents, short-term cash deposits and total current and non-current restricted cash. Rationale - This key financial indicator offers a comprehensive view of the Group's cash position and financial stability.

Calculation: please see the table below.

Total revenue: total ticket and ancillary revenue for the given period. The split of total revenue presented in the consolidated statement of comprehensive income. Rationale - Key financial indicator for the Company.

2. Glossary of terms

Aircraft utilisation/utilisation: the number of hours that one aircraft is in operation on one day. Rationale - Key performance indicator in aviation business, measurement for one-day aircraft productivity.

Calculation (for one month): monthly aircraft utilisation equals total block hours divided by number of days in the month divided by the equivalent aircraft number divided by 24 hours. Calculation (for a longer period than one month): the given period aircraft utilisation equals the weighted average of monthly aircraft utilisation based on the month-end fleet counts.

Ancillary revenue per passenger: ancillary revenue divided by the number of passengers (PAX) in the given period, which gives the ancillary performance per one passenger. Rationale - Key performance indicator for revenue performance measurement.

Calculation: ancillary revenue/PAX.

Available seat kilometres (ASK)/total ASKs: the number of seats available for scheduled passengers multiplied by the number of kilometres those seats were flown. Rationale - Key performance indicator for capacity measurement.

Calculation: seats on aircraft*stage length.

Average aircraft stage length (km): average distance that an aircraft flies between the departure and arrival airport. Rationale - Key performance indicator for measurement of capacity and productivity.

Calculation: average stage length of the revenue sectors in the given period (ASKs/capacity).

Average departures per aircraft per day: the number of departures one aircraft performs in a day in the given period. Rationale - Key performance indicator for revenue generation/utilisation of assets.

Calculation: total number of revenue sectors per number of days (in the given period) per equivalent aircraft number.

CASK (total unit cost): total cost per ASK, where cost is defined as operating expenses and financial expenses net of financial income. Rationale - Key performance indicator for divisional cost control.

Calculation: total operating expenses+financial income+financial expenses/total of ASKs (km)*100.

Completion factor or rate: per cent of operated flights compared to scheduled flights. Rationale - Key performance indicator for commercial planning and controlling, measurement for operational performance.

Calculation: number of operated flights/number of scheduled flights.

Equivalent aircraft or average aircraft count: the average number of aircraft available to Wizz Air within a period. The count contains spare aircraft, aircraft under maintenance and parked aircraft. Rationale - Key performance indicator in aviation business for the measurement of average aircraft available for flying and capacity.

Calculation (for one month): average from the daily fleet count in a given month which includes/excludes deliveries and redeliveries. Calculation (for a longer period than one month): weighted average of the monthly equivalent aircraft numbers based on the number of days in the given period.

Equivalent operating aircraft or average operating aircraft count: the average number of operating aircraft available to Wizz Air within a period. The count includes all aircraft except those parked. Rationale - Key performance indicator in aviation business for the measurement of average fleet and capacity.

Calculation (for one month): average from the daily operating fleet count in the given month which includes/excludes deliveries and redeliveries. Calculation (for a longer period than one month): weighted average of the monthly equivalent operating aircraft numbers based on the number of days in the given period.

Ex-fuel CASK (ex-fuel unit costs): this measure is computed by dividing the total ex-fuel cost by the total ASKs within a given timeframe. Ex-fuel CASK defines the unit ex-fuel cost for each kilometre flown per seat in Wizz Air's fleet. Note that: total ex-fuel cost consists of total operating expenses and net cost from financial income and expense but does not contain fuel costs. Rationale - It serves as an essential performance indicator for overseeing divisional cost control. The rationale for employing this metric is rooted in its ability to gauge and manage non-fuel operating expenses effectively.

Calculation: total ex-fuel cost (EUR)/total of ASKs (km)*100.

Foreign exchange rate: average foreign exchange rate, plus any hedge deal for the given period, calculated with a weighted average method. Rationale - Key performance indicator for Fuel Controlling and Treasury teams.

Fuel CASK (fuel unit cost): this metric is calculated by dividing the total fuel costs (plus additional fuel consumption related costs) by the sum of available seat kilometres (ASKs) during a specific reporting period. Rationale - Fuel CASK provides an insightful unit fuel cost measurement, representing the cost incurred for flying one kilometre per seat within Wizz Air's fleet. The rationale behind the use of this measure lies in its effectiveness as a critical performance indicator for the control and management of fuel expenses.

Calculation: total fuel cost (EUR)/total of ASKs (km)*100.

Fuel price (average US$ per tonne): average fuel price within a period, calculated as fuel cost (including other fuel cost-related items) divided by the consumption. Rationale - Key performance indicator for fuel cost controlling.

Gauge: the average seat capacity per aircraft.

JOLCO (Japanese Tax Lease) and French Tax Lease: special forms of structured asset financing, involving local tax benefits for Japanese and French investors, respectively. Rationale - These measures are employed to encapsulate specific lease contracts that facilitate enhanced cash utilisation strategies.

Load factor (per cent): the number of seats sold (PAX) divided by the number of seats available on the aircraft (capacity). Rationale - Key performance indicator for commercial and revenue controlling.

Calculation: the number of seats sold, divided by the number of seats available.

Net fare (total revenue per passenger): average revenue per one passenger calculated by total revenue divided by the number of passengers (PAX) during a specified period. Rationale - This metric is a crucial performance indicator for commercial control, offering insights into the overall revenue generated per passenger.

Calculation: total revenue/PAX.

Operating aircraft utilisation: the number of hours that one operating aircraft is in operation on one day. Rationale - Key performance indicator in aviation business, measurement for one-day aircraft productivity.

Calculation (for one month): average daily operating aircraft utilisation in a month equals total monthly block hours divided by number of days in the month divided by the equivalent operating aircraft number divided by 24 hours. Calculation (for a longer period than one month): the given period operating aircraft utilisation equals the weighted average of monthly operating aircraft utilisation based on the month-end operating aircraft counts.

Passengers (alternative names: passengers carried, PAX): passengers who bought a ticket (thus making revenue for the Company) for a revenue sector. Rationale - Key performance indicator for Commercial controlling team.

Calculation: sum of number of passengers of all revenue sectors.

PDP: refers to the pre-delivery payments made under the Group's aircraft purchase agreements. These payments signify contractual commitments designed to support fleet expansion and growth.

Period-end fleet size or number of aircraft at end of period: the number of aircraft that Wizz Air has in its fleet and that are leased and/or owned at the end of the given period. The count contains spare aircraft, aircraft under maintenance and parked aircraft. Rationale - Key performance indicator in aviation business for the measurement of fleet.

Calculation: sum of aircraft at the end of the given period.

Period-end operating aircraft: the number of operating aircraft that Wizz Air has in its fleet and that are leased and/or owned at the end of the given period. The count includes all aircraft except those parked. Rationale - Key performance indicator in aviation business for the measurement of operating aircraft at a period end.

Calculation: sum of operating aircraft at the end of the given period.

RASK: RASK is determined by dividing the total revenue by the total ASK. This measure characterises the unit net revenue performance for each kilometre flown per seat within Wizz Air's fleet. Rationale - It serves as a pivotal performance indicator for commercial control, providing insights into the revenue generation efficiency.

Calculation: total revenue (EUR)/total of ASKs (km)*100.

Revenue departures or sectors: flight between departure and arrival airport where Wizz Air generates revenue from ticket sales. Rationale - Key performance indicator in revenue generation controlling.

Calculation: sum of departures of all sectors.

Revenue passenger kilometres (RPK): the number of seat kilometres flown by passengers who paid for their tickets. Rationale - Key performance indicator for revenue measurement.

Calculation: number of passengers*stage length.

Seat capacity/capacity: the total number of available (flown) seats on aircraft for Wizz Air within a given period (revenue sectors only). Rationale - Key performance indicator for capacity measurement.

Calculation: sum of capacity of all revenue sectors.

Stage length: the length of the flight from take-off to landing in a single leg.

Calculation: sum of kilometres flown during a flight.

Ticket revenue per passenger: passenger ticket revenue divided by the number of passengers (PAX) in the given period. Rationale - Key performance indicator for measurement of revenue performance.

Calculation: passenger ticket revenue/PAX.

Total block hours: each hour from the moment an aircraft's brakes are released at the departure airport's parking place for the purpose of starting a flight until the moment the aircraft's brakes are applied at the arrival airport's parking place. Rationale - Key performance indicator in aviation business, measurement for aircraft's block hours.

Calculation: sum of block hours of all sectors (in the given period).

Total flight hours: each hour from the moment the aircraft takes off from the runway for the purposes of flight until the moment the aircraft lands at the runway of the arrival airport. Rationale - Key performance indicator in the airline business for the measurement of capacity and flown flight hours by aircraft.

Calculation: sum of flight hours of all sectors (in the given period).

Yield: represents the total revenue generated per revenue passenger kilometre (RPK). Rationale - This measure is integral for assessing and controlling commercial performance by quantifying the revenue derived from each kilometre flown by paying passengers.

Calculation: the total revenue/RPK.