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Founder & Managing Director, AIR Control Tower, AIR Control Tower

Neil Glynn

Founder & Managing Director, AIR Control Tower

AIR Control Tower

AIR Control Tower is an independent research and analysis platform. Its mission is to provide impactful insight and analysis across the global airline industry at a company and market level via detailed financial models to aid decision making for key stake holders at a time when risks have seldom, if ever, been higher and the global sector grapples with the imperative of funding de-carbonisation. Unique analysis forecasting global carrier-level earnings/cash flows, and restructuring/de-leveraging prospects, is designed to dynamically assess the health of the industry, predict surprises and identify potential requirements for third party support.

Insights on the global airline industry

Equity Bottom-Up

<ul>
<li>Pre-Pandemic, Wizz Air traded on an equity value or market cap €43m-€44m per aircraft. However, it currently trades on only €9m per aircraft using its March 2025 fleet. </li>
<li>​Key issues need to addressed to convince on the “right” to more than double fleet to 500 aircraft.</li>
<li>​We do not share equity issuance concerns – proper inspection illustrates leverage as a margin challenge not a balance sheet challenge.</li>
</ul>


Pre-Pandemic, Wizz Air traded on an equity value or market cap €43m-€44m per aircraft. However, it currently trades on only €9m per aircraft using its March 2025 fleet. 
​Key issues need to addressed to convince on the “right” to more than double fleet to 500 aircraft.
​We do not share equity issuance concerns – proper inspection illustrates leverage as a margin challenge not a balance sheet challenge.


Wizz Air Holdings

Wizz Air - Fitness for 500?