Hungarian Wizz Air to fly intercontinental by 2028

(Geoff Collins, CC BY-NC-ND)

The Wing Group to buy majority stake in Echo Investment developer

Russian impact on Estonian economy has declined

Hungary

Wizz Air ordered 271 new aircrafts and its total fleet is set to grow to 300 by 2028, Stephen Jones, chief executive of Wizz Air Hungary informed in interview with the Budapest Business Journal.

“Today, we are flying a number of 5-6 hour routes, while the XLR will extend our outstanding value and service proposition on routes of 7-8 hours of flying. We are continuously negotiating with many potential partners across Europe and beyond,” Mr. Jones added commenting the reports indicating the carrier was eyeing destinations in both India and North America.

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Poland

Leading Hungarian property development and investment company, the Wing group, has announced an acquisition transaction of Polish Lisala, which owns a 55.96 per cent stake in a listed Polish developer Echo Investment, MTI news agency informed. The company says the transaction will make Wing a significant player on the regional market. The deal awaits an approval of the Polish competition authority.

Echo Investment is one of the largest real estate developers in Poland, and the only one present on the residential, retail, and office markets at the same time, MTI added.

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Estonia

“Russia’s impact on the Estonian economy has declined in the last six years, with the eastern neighbor being currently only the 12th largest trade partner for Estonia,” Swedbank chief economist Tonu Mertsina said, ERR news agency informed.

“Direct investments made from Estonia into Russia has increased in the last few years, but their share in all direct investments made abroad and in Estonia’s GDP — three per cent and 3.8 per cent, respectively — are smaller than in 2013,” Mr. Mertsina added.

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What’s up in indexes

BET (of Bucharest) increased from 9539.91 index points Friday, October 18th to 9580.63 index points Monday, October 21st. It’s up 0.43 per cent d/d and up 11.2 per cent y/y.

BUX (of Budapest) increased from 40826.33 index points Friday, October 18th to 41234.58 index points Monday, October 21st. It’s up 1.00 per cent d/d and up 13.1 per cent y/y.

OMXR (of Riga) decreased from 1038.87 index points Friday, October 18th to 1026.67 index points Monday, October 21st. It’s down 1.17 per cent d/d and up 5.95 per cent y/y.

OMXT (of Tallinn) increased from 1234.03 index points Friday, October 18th to 1234.88 index points Monday, October 21st. It’s up 0.07 per cent d/d and up 0.69 per cent y/y.

OMXV (of Vilnius) increased from 695.19 index points Friday, October 18th to 697.27 index points Monday, October 21st. It’s up 0.30 per cent d/d and up 4.19 per cent y/y.

PX (of Prague) increased from 1042.90 index points Friday, October 18th to 1053.25 index points Monday, October 21st. It’s up 0.99 per cent d/d and down 2.75 per cent y/y.

RTS (of Moscow) increased from 1355.27 index points Friday, October 18th to 1365.14 index points Monday, October 21st. It’s up 0.73 per cent d/d and up 22.3 per cent y/y.

SAX (of Bratislava) increased from 344.61 index points Friday, October 18th to 344.74 index points Monday, October 21st. It’s up 0.04 per cent d/d and up 2.60 per cent y/y.

SOFIX (of Sofia) increased from 560.00 index points Friday, October 18th to 563.60 index points Monday, October 21st. It’s up 0.63 per cent d/d and down 7.65 per cent y/y.

UX (of Kyiv) decreased from 1520.41 index points Friday, October 18th to 1516.30 index points Monday, October 21st. It’s down 0.27 per cent d/d and down 11.83 per cent y/y.

WIG20 (of Warsaw) increased from 2164.75 index points Friday, October 18th to 2183.25 index points Monday, October 21st. It’s up 0.85 per cent d/d and down 0.45 per cent y/y.

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