Wizz Air launches 20 new routes to KSA, considering a Saudi operating license

A Saudi license could allow a subsidiary or joint venture to operate domestic services in the Kingdom, which has a population of about 36 million.
Short Url
Updated 25 August 2022
Follow

Wizz Air launches 20 new routes to KSA, considering a Saudi operating license

RIYADH: European budget carrier Wizz Air announced on Thursday it was launching 20 new routes with a capacity of 1 million new seats from Bucharest, Budapest, Catania, Larnaca, Milan, Naples, Rome, Tirana, Varna, Venice and Vienna to Riyadh, Jeddah and Dammam in Saudi Arabia.

The airline is also considering basing an airline in Saudi Arabia as part an agreement signed with the government this year to develop the Kingdom’s aviation sector, Reuters reported citing Wizz Air CEO Jozsef Varadi.

“Saudi Arabia is one of the most exciting countries in the world for aviation portraying an eclectic mix of travel opportunities with unmissable destinations, countless exciting attractions, and a thriving cultural scene,” he said in a separate statement.

A Saudi license could allow a subsidiary or joint venture to operate domestic services in the Kingdom, which has a population of about 36 million. It could also operate international flights that start in Saudi Arabia, opening up access to new markets.

Commenting on the new routes, Fahd Hamidaddin, CEO and member of the Board at Saudi Tourism Authority, said: “Today’s announcement of 20 new routes to Saudi is one of the largest such announcements anywhere in the world. It is a real first for Wizz Air and for Saudi, and opens a new and affordable gateway for visitors from Europe that will allow everyone to come and explore the world’s most exciting new destination.”  


Saudi Tadawul Group Holding Co.’s Q4 net profit rises 16.4% to $25.63m

Updated 14 sec ago
Follow

Saudi Tadawul Group Holding Co.’s Q4 net profit rises 16.4% to $25.63m

RIYADH: Saudi Tadawul Group Holding Co. reported a net profit of SR96.2 million ($25.63 million) in the fourth quarter of 2025, representing an increase of 16.4 percent compared to the previous three months.

For the full year 2025, the company’s net profit stood at SR395.6 million, marking a decline of 36.38 percent compared to 2024, according to a Tadawul statement.

The firm attributed the drop in annual net profit to a decrease in revenues from trading services and post-trade services, resulting from a 30.6 percent decline in average daily trading values.

Despite witnessing a drop in net profit for the whole year 2025, Group CEO of Saudi Tadawul Group Holding Co., Khalid Abdullah Al-Hussan, expressed optimism and said that the financial results demonstrated the strength of the firm’s operating model and its ability to deliver balanced and sustainable growth, supported by continued progress in diversifying revenue streams and enhanced operational resilience.

“We continued executing our strategic priorities through the launch of a new product set, enhancing capital market infrastructure, and accelerating our data and technology capabilities to reinforce the Saudi capital market as a leading regional and global financial center,” said Al-Hussan.

Saudi Tadawul Group Holding Co., through its Capital Market Authority-authorized subsidiaries, is the primary provider of securities trading, clearing, and settlement in the Kingdom.
The organization also provides technology innovation services through one of its subsidiaries.

As a foundational pillar of the Kingdom’s economy and the Financial Sector Development Program under the nation’s Vision 2030, the group is helping Saudi Arabia build a thriving economy with a technologically advanced and integrated capital market at its center.

The group’s total revenue for 2025 was SR1.26 billion, representing a 12.82 percent decline compared to the previous year.

The company achieved revenues amounting to SR638.7 million from the post-trade services sector, followed by the capital market at SR373.7 million, and the data and technology service segment at SR248.9 million.

Post-trade services were the company’s largest revenue driver at SR638.7 million, followed by the capital market segment at SR373.7 million and data and technology services at SR248.9 million.

The statement further said that total shareholders’ equity after minority interest amounted to SR3.44 billion as of Dec. 31, compared to SR3.49 billion in a year earlier period.
In a separate statement, the company said that its board of directors to distribute a cash dividend of 23 percent, or SR2.30 per share, for 2025.