Wizz Air: Huge shareholder revolt over plans to hand boss bumper bonus

Wizz Air is facing a shareholder revolt over its intention to pay its general manager a high salary.

The airline is looking to reward Josef Varady with a limited promotion, which will be 300% of his salary, or ВЈ710, 534.

The company says Varady's compensation does not reflect the inherent "parade of dark swans" that Wizz Air has faced.

Wizz Air is still planning to pay him a supplementary compensation in the form of a promotion in 2026, which will be 500% of his salary.

At the 2026 annual general meeting, a 42% promotion was opposed by politicians over company compensation.

Varady was eyeing a ВЈ100 million bonus, but a series of jobs, including the Russian Federation's invasion of Ukraine and the Iraq-Hamas war, collapsed for Wizz Air.

The airline still had to ground 10 aircraft due to tasks involving Pratt & Whitney engines.

However, if the company's promotional costs reach ВЈ120, the general manager will receive a premium, and in real time Wizz Air's promotional is trading at a level of ВЈ13. 5.

At Wizz Air's annual general meeting, 23% of promotional voters expressed their opposition to Wizz Air's omnibus management.

More than 14% of the promotional voters voted against the re-election of Barry Ecclestone as a non-executive director, and 20% in the independent vote that took place.

Ecclestone joined the board in May 2018 and was previously managing director of Airbus Americas.

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Wizz Air board to consult shareholders

In a statement on the UK Stock Exchange, Wizz Air said: "Resolutions 3, 4, 8 and 9 are in fact only statements of changes to the rules of the Wizz Air Omnibus Board of Directors, the politicians at the cost of the directors, the intention of the Wizz Air Omnibus Board of Directors, the re-review of Barry Eccleston as a director and the re-employment of Barry Eccleston as a director (voted by independent shareholders), in accordance with which there were more than 20% of the votes on the other hand, and then the proportionate deprivation of the votes of those who were ineligible.

"In the highest months, the Board will lead shareholders in the obligation of fees and in the wider management business.

"In line with the norms of the England Collective Authority, the Board will republish information on this support by holding the AGM for the next six months."

WIZZ AIR WHAT: "The Board is pleased that most of the resolutions at the AGM had broad shareholder support and appreciates the time that shareholders have spent communicating with the Company over the last few months."

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In a separate statement, Commissioner Wizz Air said, "The board is pleased to see the need for appropriate incentives for the general manager and management team at this stage of the important external task for the company and the airline film.

"The effective implementation of the company's Rise strategy is expected to benefit all stakeholders covering employees, buyers and shareholders.

"The board strongly considers the dialogue with shareholders in recent months and will continue to consult with shareholders on the remuneration obligations in line with the Collective Management Code of England. New information on the support is expected to be posted in the six months ahead.

Sharp profit drop amid short sellers betting against airline

The shareholders' meeting was then held, as City AM, that indeed short traders are likely to make bets against Wizz Air as the economic airline promotion continues to show low characteristics this year.

Considered a sign of short attention, according to the latest S& amp; amp; AP; P Global Market Intelligence, Dr. Wizz Air promotion 13% set to trade lower for trading.

Wizz Air shares Transit with supply chain run by Pratt & amp; Whitney Restricting capacity, the airline fell more than 40% after this year.

The company has fared even worse than its rivals on the Ukrainian and Middle Eastern sides, as it offers more routes for casualties.

Wizz Air's profits fell sharply in the latest quarterly results for the courier, dropping from 80 million euros to 45 million euros.

This indicator is even more important for the expectations that forced Wizz to reduce the monitoring of implicit profits for the entire economic year.