Alina Oprea • 27 June, 2023 at 5:30 PM
Wizz Air was named the most sustainable low-cost airline for the third consecutive year at the World Finance Sustainability Awards 2023. The company states that World Finance magazine appreciated Wizz Air's sustainability credentials and its commitment to reducing emissions by another 25% by the end of the decade. The jury recognized the airline's continuous investments in the latest technologies, renewal of its aircraft fleet, fuel efficiency initiatives, and partnerships dedicated to sustainable aviation fuels (SAF), including investments in research, development, and exploration of hydrogen-powered aircraft alongside Airbus. Now in its fifth year, the World Finance Sustainability Awards celebrate companies that put sustainability at the forefront of their operations.
The award categories cover thirty industries, from healthcare and digital banking to aviation.
Wizz Air achieved its lowest carbon intensity for a fiscal year, falling to 53.8 grams per passenger-kilometer in the fiscal year 2023. This represents a 6% reduction from pre-COVID levels. To achieve this, the airline has invested heavily in its fleet, replacing older aircraft with new Airbus A321neo aircraft, which offer significant environmental benefits in terms of noise reduction and fuel savings, currently being able to fly a SAF blend of up to 50%. Sustainable aviation fuel must be blended with conventional aviation fuel to meet regulatory requirements for use in aircraft. Wizz Air used 0.005% SAF in fiscal year F23.
The share of the new Airbus A320 family aircraft with "neo" technology has now exceeded 50% of the Wizz Air fleet.
Wizz Air has also drawn up a dedicated sustainable aviation fuel (SAF) strategy, which includes securing future supply agreements, and has already entered into partnerships with Mabanaft, Neste, OMV, and Cepsa. In April 2023, Wizz Air announced its first investment in a biofuel company, Firefly Green Fuels, to further support the development of SAF in the UK. In May 2023, the airline, as part of Indigo Partners, invested in Clean Joule, a start-up dedicated to the development of SAF in the US.
“We are honored to receive this recognition for the third consecutive year from World Finance for our unwavering commitment to sustainable practices in the aviation industry. At Wizz Air, we are fully committed to prioritizing carbon intensity reduction and adopting unique practices in the industry. We have embraced strategic initiatives including investing in the latest aircraft, innovative alternative fuel technologies, and exploring the potential of zero-emission, hydrogen-powered aircraft. This award is a testament to the hard work and dedication of the WIZZ team, who remain committed to the way the Group manages environmental issues, ensuring we remain industry leaders in sustainability and leading the way in the low-cost aviation sector." says Yvonne Moynihan, Corporate & ESG Officer at Wizz Air.
Commitment to sustainability is becoming increasingly important given the state of the planet, according to World Finance.
"We have been particularly impressed by Wizz Air's achievement of becoming a market-leading airline with outstanding sustainability credentials through continued investment in the latest technology and continuous improvement of the airline to reduce its carbon footprint per every passenger traveling on the airline's aircraft, operating one of the world's newest fleets, with the lowest CO2 intensity in Europe, Firefly Green Fuels' R&D investment adding to its ESG credentials,” says Monika Wojcik, Head of Special Projects at World Finance.