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Director dealings: Wizz Air chief executive dumps nearly £5.5m worth of shares

Vaxco Holdings, a Malta-based holding company associated with Wizz Air chief executive Jozsef Varadi, disposed of 150,000 ordinary shares in the budget airline on Thursday, picking up nearly £5.5m in the process.
Vaxco offloaded its Wizz shares at 3,632.00p each, totalling £5,447,999.95.

When turning in its quarterly results on 31 January, Wizz Air said it had benefitted from struggles seen at other budget airlines, leading it to grow quicker than expected.

Varadi claimed the collapse of Monarch had allowed Wizz to expand operations at London Luton airport, and up capacity into Vienna after Air Berlin went into administration.

"We are growing more than what we would have expected even six months ago," he said at the time.

Wizz maintained its outlook for a full-year net profit of around 265m to 280m.

At 1450 GMT, the shares were down 1.67% to 3,564,60p.

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