The memorandum of understanding, says that it reflects a “shared view” between the two sides on Wizz’s ability to “stimulate new demand” in Saudi Arabia.
Central European budget carrier Wizz Air has signed a preliminary agreement with Saudi Arabian authorities aimed at looking into the possibility of airline expansion in the Middle Eastern kingdom. The MoU, says that it reflects a “shared view” between the two sides on Wizz’s ability to “stimulate new demand” in Saudi Arabia.
Wizz did not elaborate on his strategic thinking for the state. According to the agreement it will allow to “explore growth opportunities for the airline market” and work with the Saudi government to “enable the profit potential investment and operating model and improve the Saudi Arabian aviation eco-system”. The airline has already established itself in the Middle East through a UAE joint venture, Wizz Air Abu Dhabi with holding company ADQ.
Wizz did not elaborate on his strategic thinking for the state.
The carrier is to double its fleet from four to eight Airbus aircraft this year in October. Meanwhile the carrier states that “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”.
It believes that it can provide a “significant contribution” to Saudi Arabia’s ambitious air transport development plans. Saudi Arabia’s Ministry of Tourism has a national air connectivity initiative and the country is aiming to triple its passenger traffic by the end of this year and part of a broader development program called Vision 2030. Wizz says in a statement which was signed the preliminary agreement with the kingdom’s ministry of investment that, “This will provide unprecedented opportunities for airlines and the aviation supply chain”.
It believes that it can provide a “significant contribution” to Saudi Arabia’s ambitious air transport development plans.