Wizz Air picks up Monarch's Luton slots

Central and Eastern European-focused low-cost airline Wizz Air has acquired Luton take-off and landing slots from collapsed airline Monarch, increasing its capacity from that base by 18% year-on-year.

The airline said late on Wednesday that the acquisition of a number of slots from Monarch will increase its fleet at London Luton by two aircraft to seven, while its capacity will rise to a total of 7.1m seats in 2018.

Chief executive officer József Váradi said: "We continue to develop our business in the United Kingdom. Following the announcements of establishing Wizz Air UK and our accelerated growth plan, just a few days ago here we go again. Acquiring airport slots and airport nightstands at Luton Airport will enable us to enhance our presence and competitive position in the London market.

"While Brexit will certainly pose challenges to the airline industry, we see it as an opportunity for Wizz Air, as our highly efficient low fare model will prevail even more under the new circumstances."

The new slots mean more than 10,000 additional low fare seats will be available on 28 new additional flights departing every week from London Luton airport. Wizz said additional London Luton routes will be announced in due course.

Earlier this week, British Airways and Iberia parent International Consolidated Airlines Group snapped up Gatwick slots from Monarch.

At 1000 GMT, Wizz shares were up 0.8% to 3,367p.