Wizz Air, the largest low-cost airline in Central and Eastern Europe, announced today its first lease agreement with Air Lease Corporation (NYSE: AL) for one Airbus A320 to be delivered in July, planned to be the 63 A320 aircraft in Wizz Air’s fleet. Terms of the agreement were not announced.
“We are excited to begin a new relationship with ALC due in part to the company’s outstanding reputation and portfolio, and also because its founder, Steven F. Udvar-Hazy, is originally from Budapest, the home city of our airline,” said József Váradi, Wizz Air CEO. “This makes our new agreement particularly meaningful to all of us at Wizz Air.”
Founded in 2004, Wizz Air has carried more than 90 million passengers and operates over 380 routes throughout Europe and the Middle East.
Udvar-Hazy was an early innovator in aircraft leasing and built International Lease Finance Corporation, now AerCap NV, into the largest aircraft lessor in the world. He formed Air Lease Corporation in 2010.