WIZZ AIR HOLDINGS PLC - RESULTS FOR THE THREE MONTHS TO 31 DECEMBER 2025

Q3 F26 RESULTS:

FOCUSED WINTER CAPACITY DEPLOYMENT AMID FURTHER CEE NETWORK EXPANSION

LSE: WIZZ

Geneva, 29 January 2026: Wizz Air Holdings Plc ("Wizz Air", "the Company" or "the Group"), Europe's most emissions-efficient airline¹, today issues unaudited results for the three months to 31 December 2025 ("third quarter", "Q3" or "Q3 F26").

This interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report should be read in conjunction with the annual report for the year ended 31 March 2025 and any public announcements made by Wizz Air Holdings Plc during the interim reporting period.

¹    Cirium, an independent aviation analytics company, which benchmarks global airline emissions intensity data has ranked Wizz Air as the airline with the lowest CO₂ per RPK compared to other global airlines.

¹    Aircraft at the end of period includes 3 aircraft in Ukraine, but excludes wet-leased aircraft.

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 as at 31 March 2025. Total cash is a non-statutory financial performance measure and comprises cash and cash equivalents (31 December 2025: €659.7 million; 31 March 2025: €597.5 million), short-term cash deposits (31 December 2025: €1,243.7 million; 31 March 2025: €1,060.2 million) and total current and non-current restricted cash (31 December 2025: €81.5 million; 31 March 2025: €78.3 million).

⁴    Comparative figure is net debt balance as at 31 March 2025.

HIGHLIGHTS

▶ASK capacity was 11.1 per cent higher in Q3 vs last year, with seats at 13.1 per cent, a difference explained by the continuing effect of shorter stage length during Q3.

▶Passengers carried increased by 12.5 per cent to 17.5 million in Q3 (vs 15.5 million last year), driving total revenue up by 10.2 per cent to €1,296.4 million with a load factor of 89.8 per cent (vs 90.3 per cent last year).

▶Total unit revenue (RASK) decreased by 0.8 per cent to €3.83 cents, while ticket RASK increased by 0.2 per cent to €2.06 cents, and ancillary decreased by 2.0 per cent to €1.77 cents.

▶Ex-fuel CASK increased by 2.1 per cent to €2.94 cents primarily due to higher depreciation, airport and en-route charges.

▶Fuel CASK increased by 2.7 per cent at €1.40 cents as a result of rising market price, higher emissions spend and SAF (Sustainable Aviation Fuel) uplift.

▶Operating loss increased by €48.0 million, mainly driven by the previously guided higher depreciation charge as maintenance on older CEO aircraft is capitalized and depreciated ahead of maintenance event before they exit the fleet.

▶Total cash increased by 24.1 per cent vs 31 March 2025 balance to €1,984.8 million, and net debt increased by 4.8 per cent to €5,196.0 million.

▶GTF engine inspections: continued progress, with 33 aircraft on ground as of 31 December 2025 down from 40 at the end of December 2024.

▶CEE market share during Q3 reached 26 per cent (+1.6 percentage points vs last year), maintaining our position as the largest CEE operator by seats.

▶The plans to re-enter Ukraine remain constantly updated and our aircraft will be able to fly there within weeks of a ceasefire, security clearance and airspace opening.

▶Wizz Air celebrated a significant milestone in January - it has flown 500 million passengers since the start of its operations.

József Váradi, Wizz Air Chief Executive Officer commented on business developments in the period:

"We continue to execute the commercial strategy we outlined earlier this fiscal year, focusing on fortifying our key bases and concentrating our efforts on network design across Central & Eastern Europe, Italy and London. This helps us to better manage RASK while allowing us to concentrate on the ex-fuel cost lines that are most heavily impacted by the Pratt & Whitney GTF engine-related disruptions affecting the Company for the past two years.

Our operations have delivered strong reliability and punctuality, continuing the trend from the summer. Commercially, we continued to invest into all our existing markets, putting on sale new flights and announcing further aircraft allocations for next summer. 

During the period our fleet size surpassed 250 aircraft, we continue to increase the share of NEO aircraft (nearly 75 per cent) in our fleet, as well as seat density (now, an average of 230 seats per aircraft). We are steadily recovering from the engine related aircraft grounding and in the next fiscal year we are targeting to have an average of 20-25 aircraft on the ground due to powered metal issues."

F26 OUTLOOK

"The ASK capacity for full F26 is expected to grow around 10 per cent over the previous year. Based on a forward booking curve the bookings are currently ahead of last year. The expectation is that load factor for F26 finishes north of 91 per cent, similar as last year.

We see similar unit revenue trends we have seen at the start of last quarter (Q3) and we are forecasting flat YoY unit revenue for F26. Total unit costs for full F26 may see modest inflation vs last year as we forecast increased navigation costs from higher Eurocontrol rates, maintenance costs due to inflationary pressures, partly reflecting the uncertainty around Pratt & Whitney's engine redeliveries from shop visits and higher depreciation costs related to the retirement schedule of the A320ceo family."

▶Capacity (ASKs): F26 up around 10 per cent YoY (seats up 11-12 per cent YoY);

▶Load factor: F26 flat YoY;

▶Revenue (RASK): F26 flat YoY;

▶Cost (CASK): F26 total CASK flat to up low-single digit YoY, ex-fuel CASK up mid-single digit higher YoY, fuel CASK down mid-to-high single digits YoY;

▶Net income: expected to be in the range of +€25 to -€25 million

COMMERCIAL AND NETWORK UPDATE

Our CEE market share reached 26 per cent in Q3 (+1.6 percentage points vs last year), maintaining our position as the largest CEE operator by seats. We remain focused on strengthening CEE and we announced new flights from Budapest, Debrecen, Vilnius, Kosice, Oradea, Cluj, Belgrade, Gdansk, Katowice, Varna, Sofia and Yerevan. We also announced the re-opening of another Romanian base in Targu Mures and increased the number of aircraft in Tirana and Warsaw in preparation for next summer. Our strategic non-CEE bases in London, Rome and Milan are also expected to grow as we record improving yield performance in these markets.

Our ancillary product initiatives like 'All You Can Fly' continue to deliver encouraging results and the Company launched a third phase with 10,000 new annual memberships available for purchase at €499. Since the launch of the initiative, subscribers have flown an average of nine times each per year.

In Q3 the overall customer satisfaction improved to 79.4 per cent (+2.7 percentage points vs same period last year).

GTF ENGINE UPDATE

As of 31 December 2025, Wizz Air had 33 aircraft grounded due to GTF engine-related inspections; reflecting a further improvement compared with the end of calendar year 2024 when the grounded fleet comprised 40 aircraft. Average groundings expected through to the end of F26 are in the range of 30-35 aircraft with this figure reducing to 20-25 by end of F27, based on a forecasted 250-day engine turnaround time. The company continues to invest in maintaining stable operations and is expecting a total spare engine fleet of around 100 engines to support operations for the start of summer 2026.

FLEET UPDATE

▶In the three months ended 31 December 2025 Wizz Air took delivery of 16x new A321neo aircraft (including 3x which were immediately sold to an aircraft lessor for onwards leasing to a related airline), and 3x new A321neo XLRs. During the same period 2x A320ceo aircraft were redelivered; ending the period with a total fleet of 257 aircraft: 28x A320ceo, 41x A321ceo, 6x A320neo, 176x A321neo and 6x A321neo XLR.

▶Deliveries were financed using a combination of sale and leaseback and JOLCO (Japanese Operating Lease with Call Option) transactions with lease terms averaging nine years, before lease extension options.

▶The average age of the fleet currently stands at 4.5 years, making it the youngest fleet of any major European airline, while the average number of seats per aircraft climbed to 230 as at December 2025.

▶The share of new "neo" aircraft within Wizz Air's fleet has increased to 73 per cent.

▶As at 31 December 2025, Wizz Air's delivery backlog comprised a firm order for 257x A321neo and 5x A321XLR aircraft, a total of 262 aircraft. The Company continues discussions with partners to transfer upcoming 5x A321XLR deliveries to another operator ahead of IATA summer season 2026.

▶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 December 2025 was €1,984.8 million, a 14.3% per cent increase vs 31 March 2025. In January 2026 the Company repaid its maturing €500 million bond, while renewing its EMTN programme for another three years.

▶Net debt at 31 December 2025 was €5,196.0 million vs €4,956.3 million at 31 March 2025, while the Company's leverage ratio (net debt to EBITDA) decreased to 4.0x compared to 4.4x at F25 year-end. Over the same period, liquidity ratio increased to 33.6 from 31.5 per cent.

▶As of 22 January 2026, using jet fuel zero-cost collars, Wizz Air has accumulated hedge coverage of 83 per cent of its jet fuel needs for F26 at a price of 681/749 $/mT. For F27 the coverage is 55 per cent at a price of 650/716 $/mT, while for F28 the coverage is 7 per cent at a price of 628/694 $/mT. The jet fuel-related EUR/USD FX coverage stands at 87 per cent for F26 at 1.11/1.15 rates; for F27 it is at 59 per cent at 1.14/1.18 rates, while the coverage for F28 is 5 per cent at 1.18/1.21 rates. From beginning of F26 the Company has been hedging USD currency exposure on its lease liabilities. As of 31 December 2025, Wizz Air had 80 per cent of $4.3 billion USD lease liability hedged using a blend of USD cash deposits, and cross currency swaps (average EUR/USD rate of 1.12).

▶The balance of the EU emissions trading scheme credits repurchase agreement as at end of December 2025 was €282.1million (vs €271.9 million at the end of F25).

▶Wizz Air continued to receive OEM compensation from Pratt & Whitney related to the GTF engine issues.

ESG UPDATE

▶As of 31 December 2025, the 12 months rolling CO₂ emissions per passenger kilometre was at 50.8g (vs 52.4g in the preceding 12 months), the lowest among peers in the industry.

▶Wizz Air maintained a 'B' score in 2025 climate ranking by CDP, reaching 'management level'.

▶In November, an employee engagement survey was conducted with highest recorded number of participants and an overall employee engagement score increased to 7.5 (+0.5 points compared to the previous year).

▶During Q3 Wizz Air updated its All Employee Bonus Scheme, aligning it more closely with Company's performance objectives. Where it was previously linked to share price increase, the scheme will now follow the structure of management's short-term incentive plan (STIP) and incorporate a balanced scorecard that combines both financial and non-financial metrics. The new scheme is already applicable in F26.

▶As of 31 December 2025 the share of Wizz Air issued share capital held by Qualifying Nationals (i.e. European Economic Area nationals), was 36 per cent, which, based on the disenfranchisement policy that Wizz Air Board last applied during July '25 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 rights.

PEOPLE UPDATE

▶During Q3 Wizz Air announced following changes to senior leadership team, effective from 1 February 2026:

▶Ian Malin is appointed as Chief Commercial Officer, assuming responsibility for the Group's commercial functions and revenue generation.

▶Veronika Špaňárová is appointed as a Chief Financial Officer. Veronika, a Czech national, will join Wizz Air following a 30-year international career at Citi having worked in corporate and retail banking across a number of countries.

▶Michael Delehant's role, currently Senior Chief Commercial and Operations Officer, is renamed as Group Managing Director.

DETAILS OF RESULTS MEETING

Wizz Air's management will host an in-person presentation for analysts and institutional investors at 09:30 GMT (10:30 CET) at MHP Group's offices, 60 Great Portland Street, London, W1W 7RT, on the day. For those who are unable to attend the presentation in person, a live webcast will also be available.

Participants can register for the webcast here: https://sparklive.lseg.com/WizzAirHoldings/events/3f832f8e-439d-4af5-96c4-e85ab5008d8e/wizz-air-f26-q3-results

- Ends -

ABOUT WIZZ AIR

Wizz Air operates a fleet of 259 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 63.4 million passengers in our 2025 financial year. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. Wizz Air has also been recognized as the "Most Sustainable Low-Cost Airline" between 2021-2025 by World Finance Sustainability Awards. 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. Most recently, it was awarded Sustainable Airline of the Year 2025 at the Airline Economics Sustainability Awards Gala in September 2025.

For more information:

Investors:    Mark Simpson, Wizz Air                        investor.relations@wizzair.com

Zlatko Custovic, Wizz Air

Media:         Andras Rado, Wizz Air                          communications@wizzair.com

James McFarlane/Eleni Menikou/Charles Hirst, MHP Group         +44 (0) 20 3128 8100

wizz@mhpgroup.com

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.

Q3 Financial review

In the third quarter, Wizz Air carried 17.5 million passengers, a 12.5 per cent increase compared to the same period in the previous year and generated revenues of €1,296.4 million, 10.2 per cent higher year-on-year. ASK grew by 11.1 per cent year on year, while seats increased by 13.1%, reflecting the shorter stage length flown. The load factor decreased by 0.5ppt to 89.8%. The reported net loss for the third quarter was €139.3 million, compared to a loss of €241.1 million in the same period of F25.

Summary statement of comprehensive income (unaudited)

For the three months ended 31 December

¹    For further definition of non-financial measures presented refer to "Alternative performance measures (APMs)" and "Glossary of terms" sections of this document.

²    n.m.: not meaningful since comparative figure is nil.

Revenue

Passenger ticket revenue increased by 11.3 per cent to €696.9 million and ancillary revenue (or "non-ticket" revenue) increased by 8.9 per cent to €599.5 million year on year, driven by volume.

Average revenue per passenger decreased to €74.23 during Q3 F26, which was 2.1 per cent lower than Q3 F25. Average ticket revenue per passenger decreased from €40.3 in Q3 F25 to €39.9 in Q3 F26, and average ancillary revenue per passenger decreased from €35.5 in Q3 F25 to €34.3 in Q3 F26, representing a decrease of 3.2 per cent.

Our total revenue per ASK (RASK) decreased by 0.8 per cent to 3.83 Euro cents from 3.86 Euro cents due load factor being lower by 0.5 ppt and yield being 0.5% lower year on year.

Operating expenses

Operating expenses for Q3 F26 increased by 13.4 per cent to €1,420.3 million from €1,252.7 million in Q3 F25 mainly due to the 11.1 per cent higher year-on-year capacity. The total cost per ASK (CASK) increased by 2.3 per cent to 4.35 Euro cents in Q3 F26 from 4.25 Euro cents in Q3 F25, driven mainly by higher depreciation, fuel, airport, and en-route charges on a unit cost basis. This is partly offset by the compensation received from suppliers.

Staff costs increased by 11.9 per cent to €158.3 million in Q3 F26, up from €141.5 million in Q3 F25, reflecting the increased headcount due to the growing capacity and the cost-of-living adjustments to salaries year on year.

Fuel expenses increased by 14.0 per cent to €475.1 million in Q3 F26, from €416.7 million in the same period of F25. The average fuel price (including hedge impact, EU ETS, and mandated SAF volumes) paid during Q3 F26 increased by 6.1 per cent compared to the same period of last year. Our fuel consumption efficiency improved due to the higher proportion of NEO fleet. We note that €14m has been spent in Q3 F26 to service our SAF related obligations included, which is included in our fuel expenses.

Distribution and marketing costs increased by 5.0 per cent to €29.5 million in Q3 F26 from €28.1 million in Q3 F25, driven by higher sales and the marketing initiatives in Spain and Italy to boost visibility in this region.

Maintenance, materials and repair costs increased by 18.0 per cent to €124.4 million in Q3 F26 compared to €105.4 million in Q3 F25. The increase was primarily driven by fleet growth, operating the older aircraft in the fleet and end of lease events associated with the return of our CEO fleet and annual price inflation.

Airport, handling and en-route charges increased 21.8 per cent to €380.3 million in Q3 F26 versus €312.2 million in Q3 F25. This was driven by a 12.5 per cent increase in departing passengers increasing Airport costs. En-route costs increased due to higher flight volumes and significant year on year price increases in key Eurocontrol areas.

Depreciation and amortisation charges increased by 28.9 per cent in Q3 F26 to €300.1 million, from €232.9 million in Q3 F25. The increase is a consequence of our growing NEO fleet as well as an increasing number of CEO redeliveries which have high depreciation costs at the end of the lease.

Other expenses amounted to €71.8 million in Q3 F26, compared to €81.2 million in the same period of last fiscal year. Other expenses decreased due to lower flight disruption costs in Q3 F26 compared to Q3 F25 as a result of improved operational reliability and delivery.

Other income amounted to €119.2 million in Q3 F26, compared to €65.3 million in Q3 F25. Other income increased due to more sale and leaseback transactions completed (higher number of aircraft deliveries in Q3 F26) as well as higher compensation received from our suppliers.

Financial income amounted to €17.7 million in Q3 F26, compared to €21.5 million in Q3 F25. Despite holding higher cash in the quarter, our average deposit rates in Q3 F26 of 3.6 per cent were lower than in Q3 F25 (5.0 per cent). This was due to a combination of weaker USD affecting income from our USD deposits and as well as holding more cash in EUR in preparation to repay the Eurobond maturing in January 2026.

Financial expenses amounted to €68.5 million in Q3 F26 compared to €63.7 million in Q3 F25, driven by the increase in our fleet and lease obligations.

Net foreign exchange loss was €8.8 million in Q3 F26, compared to a loss of €(159.5) million in Q3 F25. The EUR weakened significantly compared to the USD during Q3 F25, from 1.120 to 1.041. In Q3 F26 EUR was relatively stable compared to the USD easing from $1.174 to $1.175.

Net gain on derivative financial instruments resulted in €7.5 million gain due to the above mentioned slightly weaker EUR against the US Dollar. There were no cross currency swap contracts in Q3 F25.

Income tax was a €36.6 million credit (Q3 F25: €36.5 million credit) reflecting the reported negative profit before tax in the period. The same level of tax credit is a result of the offsetting impact of the lower loss of profit before tax for the current period and the higher effective tax rate applicable at Group level due to the introduction of OECD Pillar 2 minimum taxation.

Net profit for the nine months ended on 31 December 2025 was €184.2 million compared to a profit of €74.2 million in the same period of the last year.

Other information

1. Total cash

Total cash (including restricted cash and short-term cash deposits) at the end of the third quarter was €1,984.8 million, of which over €1,903.3 million is free cash.

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 hedge policy are rolled forward monthly, 18 months out, with coverage levels over time reaching indicatively between 70 and 95 per cent for the first quarter of the hedging horizon and between 20 and 45 per cent for the last quarter of the hedging horizon. The hedging policy covers jet fuel and jet fuel-related EUR/USD exposure. Hedge coverages at 22 January 2026 are as follows:

Fuel hedge coverage

Foreign exchange hedge coverage

Sensitivities

Pre-hedging, a $10 (per metric ton) movement in the price of jet fuel impacts the Q4 F26 fuel costs by $4.6 million.

Pre-hedging, a one cent movement in the EUR/USD exchange rate impacts the Q4 F26 operating expenses by €4.6 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 31 December 2025 we had c. $4.3bn USD lease liability, c. $3.4bn across USD cash and cross currency swaps, leaving an uncovered portion of c.$0.8bn.

3. Fully diluted share capital

The figure of 127,769,407 should be used for the Company's theoretical fully diluted number of shares as at 31 December 2025. This figure comprises 103,423,031 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 31 December 2025 (excluding any ordinary shares that would be issued in respect of accrued but unpaid interest on that date) and 99,661 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 2025 Annual General Meeting (AGM), on 24 July 2025 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 31 December

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

**        Equivalent operating aircraft excludes grounded aircraft. At end of period Q3 F26 there were 33 grounded aircraft due to GTF engine inspections and 3 grounded aircraft in Ukraine. At end of period Q3 F25 there were 40 grounded aircraft due to GTF engine inspections and 3 grounded aircraft in Ukraine. Operating utilisation is calculated based on the Equivalent operating aircraft and Block hours including wet-lease flights.

6. Cost per available seat kilometers (CASK)

For the three months ended 31 December

*    Net financial expenses excluding net gain on derivative financial instruments and net foreign exchange losses.

ADDITIONAL INFORMATION

1. Alternative performance measures

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 amortization. Rationale - This measure serves as a key financial indicator for the Company, providing insights into operational profitability.

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

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 organization's financial leverage and debt management.

Calculation: please see the table below.

Liquidity: liquidity represents cash, cash equivalents, and short-term 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.

Calculation: please see the table below.

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 condensed consolidated interim statement of comprehensive income. Rationale - Key Financial indicator for the Company.

2. Glossary of terms

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

Calculation (for 1 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 1 month): the given period aircraft utilisation equals with 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 kilometers (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 the scheduled flights. Rationale - Key performance indicator for commercial planning and controlling, measurement for operational performance.

Calculation: number of operated flights divided by 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 control 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 Kilometers (ASKs) during a specific reporting period. Rationale - Fuel CASK provides an insightful unit fuel cost measurement, representing the cost incurred for flying one kilometer 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 in 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 (%): 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: 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 or owned at the end of the given period. The count contains spares and aircraft under maintenance as well. 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 characterizes the unit net revenue performance for each kilometer 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 Kilometer (RPK). Rationale - This measure is integral for assessing and controlling commercial performance by quantifying the revenue derived from each kilometer flown by paying passengers.

Calculation: total revenue / RPK.