Low cost carrier Wizz Air is aiming to raise €200 million ($273 million) through an initial public offering on the London Stock Exchange next month. The 10-year-old company is seeking to expand its network, which currently consists of around 315 routes between 96 destinations in 35 countries, in order to challenge the continent’s leading budget carriers Ryanair and EasyJet. U.S. private equity group Indigo Partners, which is currently Wizz Air’s leading shareholder, is expected to reduce its equity holding through the share offering.
More than three years after completion of its five-million-passenger-capacity terminal at Dubai World Central (DWC), passenger operations at DWC’s Al Maktoum International Airport finally launched October 27 with the arrival of Hungarian low-cost carrier Wizz Air, Bahrain’s Gulf Air and Kuwait’s Al Jazeera Airways.
A new Gulf Cooperation Council (GCC) aviation study predicts that the Persian Gulf region will see 250 million passengers using its airports each year by 2020 and that annual Middle East aircraft movements will reach 2.3 million five years later, when the number of people living within range of a single flight reaches some 7 billion. The study, titled “The World Via Gulf” and published for Dubai’s The Airport Show, scheduled to take place from May 6 to 8 in Dubai, concludes that the region’s aviation industry will create 294,000 jobs over the next two decades.