Wizz Air has shelved plans to list its shares on the London Stock Exchange, citing current market volatility in the airline business.
The budget carrier said last month it aimed to raise EUR€200 million (USD$272 million) via the listing to strengthen its balance sheet as it seeks to fund more growth.
"The outlook for Wizz Air's business remains extremely positive and unaffected by the decision not to proceed with an IPO," the company said.
Airline stocks were hammered last week after Lufthansa cut profit targets for the next two years, citing competition from Middle East and low-cost rivals.
Wizz Air, which started to fly 10 years ago, is the largest budget airline in central and eastern Europe with a market share of 38 percent. It has made money while traditional local airlines have struggled or have gone bust in recent years.
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