Wizz Air CFO steps down as airliner pursues post-lockdown expansion

Wizz Air’s chief financial officer has stepped down, as the European airline pursues a pandemic turnaround following a recent loss of €285m.

Jourik Hooghe has decided to exit the role to seek “opportunities outside of the company” according to a statement today. However, he will be available during until the end of December during the transition period.

Ian Malin is set to take on the role at the beginning of October, having spent more than two decades across Big Four firm KPMG, Allco Finance Group, Seabury and Unical Aviation.

“He joins at an exciting time as Wizz Air drives long term growth based on a deep aircraft order book and ambitious expansion plans in Europe and the Middle East.  I look forward to working with him in the coming years,” CEO József Váradi said in a statement today.

“I would also like to take this opportunity to thank Jourik for his contribution to the company over the past three years, probably the most challenging period for any airline CFO. I certainly wish him the very best for the future.”

Following the announcement, shares went down by more than 10 per cent.

The low-cost carrier made the headlines on Saturday when it suspended its plans to resume flights between Moscow and Abu Dhabi citing “industry supply chain limitations.”

Wizz responded to mounting criticism online arguing that services were supposed to be run by its UAE subsidiary, which carries its name and brand.

The spin-off firm is registered in the Gulf state and complies with its aviation regulations, as the UAE has not posed sanctions on the Kremlin following the invasion of Ukraine.