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Wizz Air shelves plans for London flotation

Wizz Air shelves plans for London flotation
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Wizz Air, central and eastern Europe’s largest airline, has cancelled plans to list its shares on the London Stock Exchange. It has blamed current market volatility in the airline business.

The budget carrier said in May that it aimed to raise 200 million euros with the listing to strengthen its balance sheet.

Wizz Air, which has a market share of 38 percent, competes with no-frills carriers Ryanair and easyJet.

Shares in easyJet have slumped 9 percent over the past week while Ryanair’s are about 7 percent lower over the same period.