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Founder & Managing Director, AIR Control Tower, AIR Control Tower

Neil Glynn

Founder & Managing Director, AIR Control Tower

AIR Control Tower

AIR Control Tower is an independent research and analysis platform. Its mission is to provide impactful insight and analysis across the global airline industry at a company and market level via detailed financial models to aid decision making for key stake holders at a time when risks have seldom, if ever, been higher and the global sector grapples with the imperative of funding de-carbonisation. Unique analysis forecasting global carrier-level earnings/cash flows, and restructuring/de-leveraging prospects, is designed to dynamically assess the health of the industry, predict surprises and identify potential requirements for third party support.

Insights on the global airline industry

Equity Bottom-Up

<ul>
<li>Wizz Air's FY24 contained multiple distortions; we disaggregate cash flow dynamics to show an improving picture.</li>
<li>Capacity restraint has been enforced by engine issues, not zero growth in FY25 is producing high single-digit % unit revenue gains.</li>
<li>We see an opportunity for Wizz Air to rise above distortion to earnings from engine issues and compensation by providing incremental cash flow clarity.</li>
</ul>


Wizz Air's FY24 contained multiple distortions; we disaggregate cash flow dynamics to show an improving picture.
Capacity restraint has been enforced by engine issues, not zero growth in FY25 is producing high single-digit % unit revenue gains.
We see an opportunity for Wizz Air to rise above distortion to earnings from engine issues and compensation by providing incremental cash flow clarity.


Wizz Air - Opportunity to Shift Focus from P&L Distortion to Cash Flow Clarity

Wizz Air Holdings

Wizz Air - Opportunity to Shift Focus from P&L Distortion to Cash Flow Clarity