Hello! You are viewing your 1 free guest article this week

Please log in or join now for free, immediate and unlimited access to our award-winning online content. Find out more...

Join us
Already a member? Log in here

Travel industry news

26 Mar 2019

BY James Chapple


WOW Air ‘enters formal discussions’ with investors

Fresh discussions over the future of WOW Air are under way, the Icelandic carrier has said.

WOWair A320neo jet

WOW Air ‘enters formal discussions’ with investors

Efforts to shore up the airline’s finances have left WOW’s future in the balance in recent days.

US investor Indigo Group came in for WOW after Icelandair walked away from negotiations last November over an €18 million takeover.

However, WOW confirmed last week that talks with Indigo had broken down, adding it had resumed discussions with Icelandair.

Talks between the two Icelandic carriers reopened on Wednesday (March 20) but Icelandair confirmed on Sunday (March 24) it had decided not to invest.

WOW confirmed on Sunday it had entered discussions with bondholders over a voluntary restructure, including converting existing debt into equity, a move which took a major step forward on Tuesday (March 26).

“Bondholders have formally approved to convert their bonds into equity, and formal discussions with investors have commenced to fund the company,” said the airline in a statement.

“This is an important milestone in financially restructuring the company and secure the long-term sustainability of WOW Air.”

What’s your view? Email feedback@ttgmedia.com and let us know your thoughts or leave a comment below.

Add New Comment
Please sign in to comment.
Show me more

Follow Us

TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
Scroll To Top