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Wizz Air (WIZZLN 26s; Ba1/NR/BBB- Neg) Headlines

TRANSPORTATION

"*WIZZ CEO SEES 2-3 YEARS TO COMPLETELY RESOLVE ENGINE ISSUES" - bbg

Not a great headline, but the key word here is probably "completely" - it has said wet leases will be exited in Q3 (Oct-Dec) and will follow peak groundings in September.

We still see (some) value in €26s (At Z+140/€95/4.5%) on any selling this morning. Will circle back after the call is finished.

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