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Free AccessWizz Air (WIZZLN 26s; Ba1/NR/BBB- Neg) Hungarian regulator begins (another) investigation
- "HUNGARY WATCHDOG PROBES WIZZ AIR FOR ALLEGED UNFAIR PRACTICES
- HUNGARIAN REGULATOR STARTS NEW PROCEEDINGS AGAINST WIZZ AIR" - bbg
- That investigation began in early 2023 and regulator has wasted no time beginning a new one. No fines yet but its investigating pricing inconsistencies on different devices for same services and fee inconsistencies at booking vs. displayed.
- Fine above is only a dent for a co guiding to FY net income in the €350-400m range but still never nice to see for a airline operating across European countries all having their own regulator bodies (i.e. can add up).
- We still see value on the €26s at Z+180/OAS+190/€95 but we are hearing offer side still hard to find (despite mids moving wider last 2 sessions). Presser from regulator;
Presser from regulator here
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.