Wizz Forced to Explain Rising Costs After Steep Stock Drop

As a pioneer of low-cost air travel in Europe, Wizz Air Holdings Plc Chief Executive Officer Jozsef Varadi found himself in the uncomfortable position of having to explain to investors why his own company’s expenses are so high.

Facing the worst stock implosion that Wizz has experienced to date, Varadi spent more than hour on Thursday explaining to analysts on a call why costs were rising. That disclosure earlier in the day in an earnings report caught investors expecting lower expenses off guard, sending the shares plummeting as much as 29%.