The low-cost airline Wizz Air could soon have a branch in Saudi Arabia, because a memorandum of understanding was signed with the Ministry of Investment of this state to evaluate development opportunities.

"The Memorandum of Understanding reflects the parties' shared vision of the potential that Wizz Air could bring to the Kingdom to stimulate new demand and thereby make a significant contribution to Saudi Arabia's projected growth," said the Wizz Air Group in a statement. "The parties will work together to enable potential investment and operating models that benefit and enrich the Saudi Arabian aviation ecosystem by boosting the country's tourism industry and significantly increasing connectivity."

Currently, the Wizz Air Group consists of three airlines: Wizz Air Hungary, Wizz Air UK and Wizz Air Abu Dhabi. In the past, there were other offshoots with their own certificates, including Wizz Air Ukraine and Wizz Air Bulgaria. However, these have since been dissolved.

"We will also establish another national airline to be among the best airlines in the world, and we will modernize all our facilities, infrastructure and airports, most notably our hubs in Riyadh and Jeddah," said Saudi Minister of Transport Saleh Al-Jasser at the opening ceremony of the Future Aviation Forum.