sTRATEGIC Purpose

The airline is operating primarily as a result of changes in the aviation industry that took place in the 1970s. The deregulation that took place primarily in America and subsequently in Europe allowed the market to be opened up to new carriers. Deregulation is considered to be the moment when the low-cost airline business model emerged (Zhang et al., 2017).

Mission

A company's mission statement is broadly defined; however, a permanent declaration of purpose that distinguishes the firm from other companies of its type and defines its operating space in terms of product and market (Pearce, 1982). The low-cost carrier defines its mission statement through its website as offering more affordable travel options to discover Europe and beyond. Furthermore, it is highlighted that for many people Wizz Air was their first contact with air travel (Wizz Air, 2022a).

Considering the business model of the airline, the scope of its services is limited to the transport of passengers only. The use of cargo carriage or offering various classes of travel would contribute to an increase in ticket prices and would significantly affect the carrier's operating time. Therefore, it can be assumed that the airline's purpose is to offer the cheapest flight tickets and to encourage the largest possible number of people to travel (Wizz Air, 2022b). It should also be mentioned that during an interview with CAPA (centre for aviation) József Váradi, who has had a very crucial role in Wizz Air from the beginning, currently, CEO stresses the importance of liquidity. In the interview, he also presented strategies concerning the coronavirus pandemic, which are profitability and creating shareholder value (CAPA, 2021).

Vision

Collins and Porras (1996) stated that a well-developed vision consists of two main elements: a core ideology and a projected future. As far as the carrier is concerned, the ideology is to do everything possible to ensure that everyone and everywhere can enjoy travel at the lowest possible prices and to set high standards in terms of safety and reliability. Furthermore, regarding the projected future, the low-cost carrier has strong assumptions about the development of the airline. The figure below of the modernisation and expansion of the fleet shows just how extensive the future growth is planned (Wizz Air, 2022c).

Main values of the airline

• Inclusivity

We collaborate together to achieve our goals.

• Positivity

We are an optimistic, happy, inspired and inspiring team.

• Dedication

We have an entrepreneurial ‘can do’ attitude: we take individual & collective ownership and are accountable for everything we do.

• Integrity

We collaborate together to achieve our goals.

• Sustainability

We strive to be the greenest choice of air travel and work hard on continuously decreasing our environmental footprint.

(Wizz Air, 2022a).

Stakeholders

Shareholders have been defined as groups that are vital to the survival and success of an organisation (Friedman and Miles, 2006). They are therefore all groups that have a relationship with the organisation. However, it is significant to consider the external and internal division of stakeholders presented by Mark-Herbert and Von Schantz (2007; see figure 1). In the case of Wizz Air, this structure is similar to most airlines, where the main stakeholders are employees, investors, suppliers, management and customers.