2nd Mar 2020 08:16
(Alliance News) - Budget airline Wizz Air Holdings PLC is looking to launch Abu Dhabi operations this autumn following the completion of a partnership agreement, the company said on Monday.
Hungarian airline Wizz first announced the move into the region in December, creating Wizz's first operations outside of Europe. It was set up in a joint venture with Abu Dhabi Development Holding Co PJSC, which looks after the emirate's state-owned companies.
Wizz said Monday the agreement with ADDH has now been finalised, paving the way for operations to start in the autumn of 2020. This is a "major milestone", Wizz said, and it will fly to destinations in Europe, the Middle East, Asia, and Africa from Abu Dhabi's international airport.
"Today marks an important milestone on the way to establishing our new airline in Abu Dhabi. The joint venture agreement with Abu Dhabi Developmental Holding Co to form Wizz Air Abu Dhabi underpins our long-term dedication to bringing an economically and operationally highly efficient as well as environmentally most sustainable airline business model to boost Abu Dhabi's aviation development," said Wizz Chief Executive Jozsef Varadi.
"Wizz Air's mission feeds into Abu Dhabi's diversified economic strategy as we aim to stimulate traffic by creating demand to the benefit of growing Abu Dhabi's touristic and economic diversity. We look forward to welcoming passengers on board our young, green and ultra-efficient fleet."
Wizz, which is focused on central and eastern Europe, currently offers over 700 routes in Europe in 45 countries. It has an all-Airbus SE fleet of 120 aircraft.
Shares were 2.6% higher on Monday morning at 3,503.41 pence each. However, they have lost 22% since the middle of February.
Airline stocks have borne the brunt of a sell-off prompted by the coronavirus outbreak in China, amid fears of a steep decline in travel demand if the virus continues to spread across the world.
By George Collard; [email protected]
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