RIYADH: European budget airline Whizz Air has signed a preliminary agreement with Saudi Arabia’s Ministry of Investment to explore opportunities in the Kingdom, as the aviation sector recovers from the pandemic, the Financial Times reported.
Wizz Air and Saudi Arabia will work together on potential investment and operating models to boost the country’s tourism industry. The deal is also expected to boost the connectivity of the low-cost airline.
“This agreement 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,” said Wizz Air in a statement filed at the London Stock Exchange, on Tuesday.
Meanwhile, as the Future Aviation Forum concluded in Riyadh on May 10, Saudi Arabia announced its ambitious plans to launch a new national airline to complement its existing national carriers.
Saudi Arabia also announced its new travel policy at the event, tentatively named Harmonizing Air Travel Policy, aimed at reducing formalities and complexities associated with international travel.
