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26th January, 2023

Wizz Air expects record year in 2023

Hungarian low-fare airline Wizz Air carried a record 3.7 million passengers to and from Budapest last year and it expects traffic to rise to 4.8 million in 2023, the company announced.

The airline more than doubled its passenger numbers globally to 45.6 million last year, exceeding the record figures set in 2019 by 14% as it benefited from a strong post-pandemic recovery.

The company will add a new Airbus A321neo aircraft at the Budapest base, bringing its fleet here to 13.

The average age of the company’s 117-large fleet is 4.6 years, compared to the sector average of 10.

Wizz Air will operate flights to 64 destinations in 30 countries from Budapest and Debrecen this summer, as one-third of the company’s seat capacity will be available in Hungary in the April-October period.

In the first half of the airline’s business year ending in September, the load factor rose from 75.3% to 86.9%. Ebidta grew from €164.3 million to €217.8 million, and revenues rose from €880.4 million to €2.2 billion. (novekedes.hu; napi.hu; hvg.hu; 24.hu; forbes.hu)
26th January, 2023

Solar begins Ft 3bn expansion

Solar FM, which designs and builds solar parks, is investing close to Ft 3 billion to add the production of solar panel mounting systems at its base in Komlo in Baranya county.

The project includes the renovation of the company’s production hall, the purchase and installation of technological and IT equipment and the installation of a heat pump.

The company received Ft 1.5 billion in EU grants for the investment, which will be completed by the end of 2023.

Solar recorded a Ft 165 million net profit in 2021, down from Ft 440 million a year earlier. Revenues fell to Ft 716 million from Ft 837 million in the same period. (profitline.hu; hirado.hu)
26th January, 2023

Fotaxi reports on robust year

Fotaxi, one of the leading taxi firms, reported an outstanding year in 2022 as its fleet of 1,500 vehicles covered 36 million kilometres, the company announced.

The lifting of pandemic restrictions and the rebound in tourism helped traffic, it added.

Airport and corporate traffic accounted for 33% and 10% of total mileage, respectively, and night trips were up 44%.

Company orders rose by 33% from 2021 and exceeded the 2019 record.

The company booked a Ft 8.8 million profit in 2021, its last completed business year, bouncing back from a Ft 218 million loss a year earlier. Net revenue edged up by Ft 10 million to Ft 1.29 billion. (napi.hu; infostart.hu; portfolio.hu)
26th January, 2023

Budapest taxi fares to rise by 10%

Budapest city council yesterday voted to raise regulated taxi fares in the city by 10% from March 6.

The base fare will increase from Ft 1,000 to Ft 1,100, and rates will go up from Ft 400 per kilometre to Ft 440 and from Ft 100 per minute to Ft 110.

City leaders argued that higher fuel prices after the cancellation of the price cap in early December warranted the move. Fidesz council members abstained from the vote.

Taxi fares were last raised on May 9, 2022, by 33%, when the basic fare rose from Ft 700 to Ft 1,000, the fare per kilometre from Ft 300 to Ft 400 and the fare per minute from Ft 75 to Ft 100.

Taxi companies and the Budapest Chamber of Commerce asked the government to maintain regulated prices on the taxi market, arguing that the abolition of regulated prices would lead to unfair competition that would be detrimental to both customers and service operators. (forbes.hu; klubradio.hu; hirado.hu; origo.hu; hvg.hu)

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