Wizz Air's top shareholder cuts stake to comply with ownership rules
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(Reuters) - Wizz Air's largest shareholder, U.S.-based private equity firm Indigo Partners, carried out a long-time plan to cut its stake in the company as the Budapest-based low-cost airline works to comply with European Union ownership rules.Bill Franke, founder and managing partner of Indigo Partners and a veteran American low-cost airline investor, is chairman of Wizz Air. Indigo cut its stake to 3.4% from 20.6%, according to the bookrunner on Tuesday. Airlines must be more than 50% owned..