Wizz Air Wins Most Sustainable Low-Cost Airline Award
For the third year in a row, Wizz Air has been awarded the title of Most Sustainable Low-Cost Airline at the World Finance Sustainability Awards 2023.
Wizz Air was commended by World Finance for its commitment to sustainability and efforts to reduce emissions intensity by an additional 25% by the end of the decade.
The judging panel acknowledged the airline's ongoing investments in cutting-edge technology, fleet modernization, fuel efficiency initiatives, sustainable aviation fuel (SAF) partnerships, research and development ventures, and exploration of hydrogen-powered aircraft in collaboration with Airbus.
In the fiscal year 2023, Wizz Air achieved its lowest-ever carbon intensity, with only 53.8 grams per passenger/km. This represents a 6% reduction from pre-coronavirus levels.
To achieve this milestone, Wizz Air made substantial investments in its fleet, replacing older planes with new Airbus A321neo aircraft that offer notable environmental advantages, such as noise reduction and fuel savings. These planes can currently operate with up to a 50% blend of sustainable aviation fuel. More than 50% of Wizz Air's fleet now consists of the new "neo" technology Airbus A320 family aircraft.
Additionally, Wizz Air has implemented a sustainable aviation fuel strategy, including securing agreements with suppliers for future fuel procurement. The company has already formed partnerships with Mabanaft, Neste, OMV, and Cepsa.
In April 2023, Wizz Air announced its first equity investment in a biofuel company, Firefly Green Fuels, to further support the development of SAF in the U.K.. Furthermore, in May 2023, as part of Indigo Partners, Wizz Air invested in Clean Joule, a U.S.-based startup focused on sustainable aviation fuel.
“We are truly honored to receive recognition for our unwavering commitment to sustainable practices within the aviation industry from World Finance for the third year in a row," Yvonne Moynihan, Wizz Air's corporate & ESG officer, said. “At Wizz Air, we are whole-heartedly dedicated to prioritizing the reduction of carbon emissions intensity and adopting pioneering practices. We have embraced strategic initiatives including investing in the latest aircraft and innovative alternative fuel technologies and exploring the potential for hydrogen-powered zero-emission aircraft."
“This award is a testament to the hard work and dedication of our Wizz team, are committed to the Group’s environmental stewardship by ensuring we remain industry leaders in sustainability and leading the way in the low-cost aviation sector,” she added.
Monika Wojcik, the airline's head of special projects, noted, “Finance Magazine recognizes companies that are actively committed to making significant changes in the areas of environment, society, and corporate governance. A sustainable commitment is becoming increasingly important given the state of the planet."
“We were particularly impressed by Wizz Air’s achievement to become a market-leading airline with outstanding credentials regarding sustainability position by continued investment in the latest technology and the airline’s continuous improvement to reduce the carbon footprint per passenger traveling on the airline planes, operating one of the youngest aircraft fleets in the world with consistently the lowest CO2 intensity performance in Europe, investment in Firefly Green Fuels’ research and development, adding to the overall ESG credentials,” she added.
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