SCHIPHOL-RIJK (dpa-AFX) - Wizz Air Holdings Plc (WIZZ.L) said that, further to its announcement of the entry into a memorandum of understanding on 18 June 2015, it signed the purchase agreement with Airbus which provides for the purchase of 110 A321neo aircraft . At current list prices, the order for 110 A321neos is valued in excess of US$13.7 billion, although Airbus has granted significant discounts from list prices to Wizz Air.
Wizz Air has an outstanding commitment to purchase a further 48 aircraft from Airbus, comprising 21 A320ceo aircraft and 27 A321ceo aircraft . The first Wizz Air A321ceo aircraft will enter service in November 2015 and will be equipped with 230 seats. All aircraft under the Existing Order are scheduled for delivery by 2018, however, under the an amendment agreement entered into today (which is conditional on the New Airbus Agreement coming into force), ten A320ceo aircraft currently scheduled for delivery in 2018, under the Existing Order, will be cancelled.
The New Airbus Agreement includes the purchase of 110 Airbus A321neos for delivery between 2019 and 2024 (inclusive). These aircraft will enable Wizz Air to renew its existing fleet and provide additional capacity for further growth. Airbus neo aircraft provide additional efficiencies that will enable Wizz Air to offer even lower fares to the market and will ensure Wizz Air maintains its young, efficient, industry leading fleet.
Of the 110 aircraft to be delivered to Wizz Air under the New Airbus Agreement, 51 aircraft will be for the planned replacement of existing aircraft when they are returned to lessors or sold between 2019 and 2024.
The New Airbus Agreement also provides for purchase rights for the purchase of an additional 90 A321neo aircraft. These purchase rights can be exercised in four batches by June 2017, June 2018, June 2019 and June 2020, respectively.
Under the terms of the New Airbus Agreement, the Company is required to select the engines to be installed on the new aircraft by 31 December 2016.
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