logo-loader
RNS
viewWizz Air Holdings

Wizz Air Holdings - Agreement to establish Wizz Air Abu Dhabi

RNS Number : 5907E
Wizz Air Holdings PLC
02 March 2020
 

WIZZ AIR AND ABU DHABI DEVELOPMENTAL HOLDING COMPANY CONCLUDE AGREEMENT TO ESTABLISH WIZZ AIR ABU DHABI

 

-     New airline supports "Ghadan 21" initiatives to make UAE capital a globally attractive destination for business, tourism and living

 

Abu Dhabi, 2 March 2020: Wizz Air Holdings Plc ("Wizz Air"), Europe's fastest growing and greenest airline* announced today that it concluded the definitive agreement with its partner Abu Dhabi Developmental Holding Company PJSC ("ADDH"), to jointly establish Wizz Air Abu Dhabi. The low-cost airline is set to launch its operations at Abu Dhabi International Airport in Fall 2020.

 

The agreement is a major milestone in the launch of Wizz Air Abu Dhabi, a new Emirati low-cost airline based in the UAE's capital. Wizz Air Abu Dhabi plans to start operations in the second half of the year, bringing low fares paired with a high-quality on-board experience to a range of destinations across Europe, the Middle East, Asia and Africa.  

 

With Wizz Air Abu Dhabi's recruitment activities set to commence in the coming months, the agreement will create new job opportunities, boost the economy and attract more visitors to Abu Dhabi. The announcement is also in line with Abu Dhabi's AED 50bn accelerator programme Ghadan 21, which is driving the emirate's development through investing in business, innovation and people.

 

Following the agreement, the airline development team has already initiated the process with the UAE General Civil Aviation Authority to obtain the carrier's Air Operator Certificate and Operating License.

 

József Váradi, CEO of Wizz Air Holdings, said: "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 Company 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. 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."

 

His Excellency Mohamed Hassan Al Suwaidi, CEO of ADDH, said: "Tourism is a high priority in Abu Dhabi's growth strategy. Significant investment is going not only into our airports but also the tourist infrastructure, including hotels, resorts and cultural attractions. Last year the emirate achieved a record high of 11.35 million visitors and a key driver for this is the connectivity that enables people to visit Abu Dhabi easily and affordably.  Our partnerships with Wizz Air and others will help elevate the UAE's capital as a highly competitive regional and international destination for leisure and business travellers alike."

 

The airline will focus on establishing routes to markets in which Wizz Air has existing, high growth operations, namely Central and Eastern and Western Europe.  

 

 

*Wizz Air's carbon-dioxide emissions were the lowest among European airlines in January 2020 (58.9 gr/km/passenger)

 

 

-ENDS-

 

About Wizz Air

Wizz Air, the largest low-cost airline in Central and Eastern Europe, offers more than 700 routes from 25 bases, connecting 155 destinations across 45 countries. A team of more than 5,000 aviation professionals delivers superior service and very low fares making Wizz Air the preferred choice of almost 40 million passengers in 2019. WIZZ operates an all-Airbus fleet of 120 aircraft. Its A320s are equipped with 180 seats, its A321s with 230 seats and its A321neo aircraft with 239 seats. According to the latest data of the Swiss airline intelligence provider CH-Aviation, Wizz Air has one of the youngest airline fleets in the world. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ and is included in the FTSE 250 and FTSE All-Share Indices. Wizz Air is registered under the International Air Transport Association (IATA), Operational Safety Audit (IOSA), the global benchmark in airline safety recognition. 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 2019 - Airline of the Year by Air Transport Awards the only international awards that recognizes the year's most outstanding performers in the aerospace industry in the most important categories.

 

About Abu Dhabi Developmental Holding Company

Headquartered in Abu Dhabi, Abu Dhabi Developmental Holding Company (ADDH) was established in 2018 as a public joint stock company (PJSC). It holds a diverse portfolio of state-owned enterprises (SOE) spanning key sectors of Abu Dhabi's economy, including utilities, tourism, transport & logistics, industries, real estate, financial services, media, healthcare, agri-foods and ICT.

 

With a clearly defined mandate to generate sustainable financial returns for the Government of Abu Dhabi, ADDH stimulates value creation by developing prominent cluster ecosystems and instilling a culture of performance and efficiency across its portfolio of companies. 

 

In addition to its role as a strategic government partner, ADDH is an asset owner and investor in target sectors, both locally and internationally, which align with Abu Dhabi's leadership vision.

ADDH is committed to developing a globally competitive Abu Dhabi and operates with world-class standards of governance.

 

For more information:

 

Andras Rado; Wizz Air Group; [email protected] 

 

Follow us on Instagram: @wizzair

 Follow us on Facebook: @wizzair

Follow us on Twitter: @wizzair

 

 

Notes for Editors:

·    All Wizz Air flights are operated on Airbus A320 aircraft, with 180 seats and A321 aircraft with 230 seats and Airbus A321neo aircraft with 239 seats

·    For free pictures of aircraft, crews and logo library please visit http://wizzair.com/en-GB/press


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
AGRUPUGPWUPUGRG

Quick facts: Wizz Air Holdings

Price: 3228

Market: AIM
Market Cap: £3.32 billion
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE