Wizz Air has blamed geopolitical instability, higher maintenance costs due to the harsh operating environment, and limited market access for pulling out of the Middle East.<\/p>\n
The Hungarian low cost carrier has concluded its has no chance of making a profit from a joint venture with the Abu Dhabi Developmental Holding company.<\/p>\n
The airline said the \u201cstrategic alignment\u201d will see all locally based flight operations suspended as of September 1 as it refocuses on its core central European markets and in the UK, Austria and Italy.<\/p>\n
Resources will be redeployed to these regions to drive greater long-term growth and profitability, the ultra low cost carrier said.<\/p>\n
Josef Varadi, chief executive of Wizz Air, said: \u201cWe have had a tremendous journey in the Midde East and we are proud of what we have built.<\/p>\n
\u201cI thank our highly dedicated employees for their relentless efforts and commitment for developing the Wizz brand in new and dynamic markets.<\/p>\n
\u201cHowever, the operating environment has changed significantly. Supply chain constraints, geopolitical instability, and limited market access have made it increasingly difficult to sustrain our original ambitions.<\/p>\n
\u201cWhile this is a difficult decision, it is the right one given the circumstance. We continue to focus on our core markets and on initiatives that continue to enhance Wizz Air\u2019s customer proposition and build shareholder value.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Wizz Air has blamed geopolitical instability, higher maintenance costs due to the harsh operating environment, and limited market access for pulling out of the Middle…<\/p>\n","protected":false},"author":120,"featured_media":174594,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1131,35,266],"tags":[],"class_list":["post-184966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","category-low-cost","category-latest-news-low-cost"],"yoast_head":"\n