Select two UK-based PLCs from the same sector (e.g., Next plc and JD Sports plc are in the same sector – fashion retail).See: https://www.hl.co.uk/shares/stock-market-summary/ftse-all-share for a list...

PERFORMANCE COMPARISON REPORT: WIZZ AIR AND EASY JET
Table of Contents
Introduction    3
Comparison of the Financial and Market Performance of Wizz Air and EasyJet    3
Staff, Shareholders and Stakeholders of Wizz Air and EasyJet    4
Customers of Wizz Air and EasyJet    6
Internal and External Stakeholders of Wizz Air and Easy Jet    7
Corporate Governance of Wizz Air and EasyJet    7
Conclusion    8
References    10
Introduction
With increasing business competition in the airlines industry, the companies have entered into a cutthroat competition with each other. Wizz Air and EasyJet are two such companies in the airline industry who have been trying their level best to perform better than one another do when it comes to corporate governance or implementing business strategies to improve the financial performance of the business. Wizz Air was originally established with the name Wizz Air Hungary with its headquarters in Budapest, Hungary. The airline was founded in the year 2003 while EasyJet is a much older name in the business with its roots dating back to the year 1995. The later has its headquarters in Luton, United Kingdom. One thing that is common in both of these companies is their strategy to be a low cost airline. Wizz Air serves in nearly 150 destinations serving across many cities of Europe as well as some destinations in Middle East and North Africa. EasyJet on the other hand covers more than 1000 routes nationally as well as internationally and operates in more than 30 countries with its affiliate airlines. Wizz Air faces major competition from Southall Travel, Flight Hall UK while, EasyJet and many more while EasyJet has determined its competitors to be Wizz Air, Flybe, Ryanair and many more. However, both of these companies have determined the industry trends to be rising passenger demands and rebounding cargo volumes.
Comparison of the Financial and Market Performance of Wizz Air and EasyJet
Though both of these companies have been performing extremely well in the airline industry, a comparison between their financial performances will help to understand their strategies more clearly. As per the annual reports of Wizz Air derived from its official website the total revenue of the continuing operations has been determined as €2319.1 million in the year 2019 which is 19.6% more than the year 2018. However, the total revenue of EasyJet has increased by 8.3% from £5898 million to £6385 million. Wizz Air declared its full business profit to be up by 6% from €275.1 million in the year 2018 to €291.6 million in the year 2019. The profit graph of Wizz Air highlights the success that Wizz Air enjoys while EasyJet has not been able to perform as expected.
Fig 1: Net Profit of Wizz Air
Through the official reports of these two companies, it could be inferred that Wizz Air is giving tough competition to EasyJet because it has managed to attract more number of passengers as compared to EasyJet in the past year. Though EasyJet has more number of aircrafts and covers much larger routes than Wizz Air, the cheap flights with better quality of services has helped them to have larger share of market. The annual report of Wizz Air indicates that it has managed to capture 38.6 % of the market while the market share of EasyJet has decreased considerably to 8.9%. Wizz Air served 34.6 million passengers in the year 2019 which increased by 16.7%. On the other hand, rival of Wizz air provided its services to 96.1 million customers, which are 8.6% more than the previous year. Although EasyJet has more number of customers but the growth rate of Wizz Air is much better than that of EasyJet. The rapid growth plan of Wizz Air is a matter of concern for rivals like EasyJet. Wizz Air’s continuous investments in its fleet have helped the company to cover more routes leading to increased number of customers for the organization. Therefore, enhancing the profits the business makes every year and thus giving tough competition to other established players in the aviation industry.
Staff, Shareholders and Stakeholders of Wizz Air and EasyJet
Both the airlines have managed to maintain a huge customer base because of their experienced and well trained staff that is capable of providing its customers with best travelling experience. As per the annual report of Wizz Air, the number of employees in the year was 3686 and the number increased to 4550 by 14.5 %. Because of the diversification of the business by expanding the reach to new destinations and covering new routes, the demand of trained and experienced employees within Wizz Air grew manifolds. Another big name, EasyJet have stated in their annual report that they employ 14,000 employees and rank at number six among the top ten competitors. Though these organizations have considerable difference in the number of their workforce, the management of both the organizations gives the credit of their success to their employees. It has clearly been mentioned in the annual reports of EasyJet that it is because of their fantastic staff that they have managed to incorporate efficiency into their business operations and therefore the value proposition of the business has...