Potential Expansion in The Kingdom of Saudi Arabia

RNS Number : 8578K

Wizz Air Holdings PLC

10 May 2022

 

WIZZ AIR POTENTIAL EXPANSION IN THE KINGDOM OF SAUDI ARABIA

LSE: WIZZ

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.

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ABOUT WIZZ AIR

Wizz Air, the fastest growing European low-cost airline and one of the most sustainable, operates a fleet of 154 Airbus A320 and A321 aircraft . A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 27.1 million passengers in the financial year F22 ending 31 March 2022. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service, and was rated the most sustainable airline in Europe by Sustainalytics.

ABOUT THE NATIONAL AIR CONNECTIVITY PROGRAMME

The National Air Connectivity Programme is an initiative of the Saudi National Tourism Strategy established in 2021 by the Saudi Arabia Council of Ministers' resolution.  The intent is to enable Tourism Air Connectivity in support of the development of the Tourism Sector in the Kingdom of Saudi Arabia. 

For more information:
Investors:	Zlatko Custovic, Wizz Air	[phone]
Media:	Christie Rawlings, Wizz Air Edward Bridges / Jonathan Neilan, FTI Consulting LLP:	[phone]/ [phone] [phone]

 

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