(Alliance News)- Wizz Air Holdings PLC said on Tuesday it signed a memorandum of understanding with the Ministry of Investment of Saudi Arabia in bid to explore airline market development opportunities.
The kingdom has launched a plan to triple passenger traffic by 2030 as part of the Vision 2030 programme.
"This will provide unprecedented opportunities for airlines and the aviation supply chain," the airline said.
It continued: "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 Budapest-based budget airline said in April this year that it carried 3.6 million passengers in April, multiplying from just 953,094 in the pandemic-struck April a year ago and up 44% from March this year.
Wizz says its load factor in April is 83.4%, up from 59.2% a year ago but down from 86.2% in March. On a rolling 12-month basis, the company carries 30.1 million passengers, nearly triple the 10.7 million a year before, with a 79.3% load factor, up from 63.6%.
Wizz Air shares were up 4.5% at 2,974.00 pence each on Tuesday morning in London.
By Xindi Wei; xindiwei@alliancenews.com
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Wizz Air (WIZZ)