The largest low-cost airline in Central and Eastern Europe claims that the mega deal will enable it to deliver on its fleet replacement and expansion plans and ensure strong growth for the next decade.
At current list prices, the order for 146 Airbus A320neo family is valued in excess of US$17.2 billion, although Airbus has granted significant discounts from list prices to Wizz Air.
The company will retain flexibility in determining the most favourable method of financing the aircraft under the New Airbus Agreement.
Wizz Air already has an outstanding commitment to purchase a further 135 aircraft from Airbus, comprising 8 A320ceos, 17 A321ceos and 110 A321neo aircraft.
All aircraft under the Existing CEO Order are scheduled for delivery by 2019 and all aircraft under the Existing NEO Order are scheduled for delivery by the end of 2024.
The New Airbus Agreement includes the purchase of 72 Airbus A320neos and 74 Airbus A321neos for delivery between 2021 and 2026 (inclusive).
It is required to select the engines to be installed on the new aircraft by 30 June 2019.
Wizz Air's chief executive, József Váradi, said: “We are pleased to confirm this order with Airbus to purchase a further 146 A320neo family aircraft.
"This further order of latest-technology aircraft will help us to continue to drive our operating costs even lower as we aim to become the absolute cost leader in Europe.
"It also provides significant flexibility to match our fleet to our growth requirements.
"The new aircraft will enable us to sustain our cost advantage through cabin innovations, the latest engine technology and other efficiency improvements, while enhancing our customer offering and experience.
"Airbus is a key partner for us and we believe they have the best aircraft to serve our markets and we are happy to be continuing our longstanding relationship with them."