Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Wizz Air suspends relaunch of Russia-UAE flights as criticism mounts

Published 08/19/2022, 03:27 PM
Updated 08/20/2022, 05:35 AM
© Reuters. FILE PHOTO: A Wizz Air Airbus A320 at Luton Airport,  Luton, Britain, May 1, 2020. REUTERS/Andrew Boyers
TWTR
-

DUBAI (Reuters) - European budget carrier Wizz Air has suspended plans to resume flights from the Russian capital of Moscow to Abu Dhabi in the United Arab Emirates, amid mounting criticism over the relaunch decision this month.

In Friday's statement deferring the flights until further notice, Wizz Air made no mention of the social media backlash, which included some calls to boycott the airline, but referred only to "industry supply chain limitations".

On Twitter (NYSE:TWTR), the airline had responded to criticism by saying the flight would be run by its Abu Dhabi venture, which is a registered carrier in the United Arab Emirates operating in line with the Gulf state's regulations.

Other UAE carriers were operating to Russia, it added.

London-listed Wizz Air holds a 49% stake in Wizz Air Abu Dhabi whose aircraft carry the European airline's name and branding. Abu Dhabi sovereign wealth fund ADQ owns 51%.

This month, Wizz Air said flights between Abu Dhabi and Moscow would resume from October. On Feb. 27, it had suspended all fights with Russia after the invasion of Ukraine.

Wizz Air also holds airline operating certificates (AOCs) in Britain and Hungary.

European carriers have ceased operations with Russia, while Russian airlines are banned from European Union airspace as part of Western sanctions for the conflict, which Moscow calls a "special military operation".

© Reuters. FILE PHOTO: A Wizz Air Airbus A320 at Luton Airport,  Luton, Britain, May 1, 2020. REUTERS/Andrew Boyers

The UAE has not imposed sanctions on Russia and instead said it sought to maintain a neutral position.

(The story is refiled to fix syntax in fourth paragraph)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.