By Anthony O. Goriainoff
Shares in Wizz Air Holdings PLC fell on Monday after the company said that its capacity for the first quarter of the year ending March 31, 2023, has been adjusted to grow 30% over 2019 due to the war in Ukraine, and that it is expected to grow around 40% over 2019 in the second quarter.
Shares at 0845 GMT were down 366 pence, or 14%, at 2,307 pence.
The London-listed eastern Europe-focused carrier said that given the high and volatile commodity environment, it has capped its fuel-cost exposure for the next four months with zero cost hedges.
The budget airline said that its commercial plan maintains a capacity mix of around 65% in its core central Europe region, around 30% from its western bases and around 5% from Abu Dhabi.
The company said that all flights originating from its Kyiv, Lviv and Saint Petersburg bases have been taken off sale, and that flights from its base in Moldova have shifted to Iasi, Romania.
Wizz Air said that it still had four aircraft in Ukraine and is waiting for a safe evacuation window for these.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com