Wizz Air has beefed up its financial management as the budget carrier extends its operations.

Former Proctor & Gamble regional finance chief Jourik Hooghe becomes executive vice president and group chief financial officer from February 1.

He will be responsible for Wizz Air’s finance and supply chain organisations.

Current chief financial officer Iain Wetherall will be appointed to the newly created role of chief investment officer position reporting to Hooghe.

The changes follow the airline revealing plans to establish a low cost start-up in Abu Dhabi.

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Chief executive Jozsef Varadi said: “Wizz Air’s continuing high growth and geographic diversification creates a requirement to constantly plan for the future scalability and evolution of our core functions.

“Through these appointments we are enhancing our leadership capacity and capability in our finance function.

“The appointments of the executive vice president and group chief financial officer and the chief investment officer allow us to further refine our subsidiary structure, to up our corporate finance activities and at the same time to bring further focus on our aircraft delivery programme and associated financing requirements.

“This new energy and additional capacity in finance will ensure we maintain our ultra-low cost base to become the undisputed cost leader among European airlines while continuing to deliver one of the highest profit margins in the industry.”