Geneva, 10 May 2022: Wizz Air Holdings Plc ("Wizz Air" or "the Company"), Europe's fastest growing and most sustainable airline, today signed a Memorandum of Understanding ("the MoU") together with the Ministry of Investment of the Kingdom of Saudi Arabia ("KSA" or "the Kingdom"), supported by the Saudi National Air Connectivity Programme (a Ministry of Tourism initiative to support the development of the Saudi Tourism Sector). The purpose of the MoU is to explore airline market development opportunities in the Kingdom.
The Kingdom has launched a strategic and ambitious vision to triple passenger traffic in the Kingdom by 2030 as part of the Vision 2030 programme. This will provide unprecedented opportunities for airlines and the aviation supply chain.
Wizz Air's innovative and sustainable ultra-low-cost-carrier model is proven to develop markets by making air travel affordable for more people than ever before. The MoU reflects a shared vision between the parties on the potential Wizz Air could bring to the Kingdom to stimulate new demand, thereby making a significant contribution to Saudi Arabia's planned growth.
The parties will work together to enable potential investment and operating models to benefit and add to the Saudi Arabian aviation ecosystem, boosting its tourism industry and significantly increasing its connectivity.