An important day today for WOW Air as a majority of WOW air Bond Holders and other creditors of WOW air are in advance discussions with the aim of reaching an agreement on a voluntary restructuring including an agreement of converting current debt into equity and fund the company towards long term sustainability.
In 2018, the airline lost 22 billion krónur, but the losses were also due to the sale of four Airbus A321ceo aircraft to Air Canada. Two of those jets didn’t pass the sales inspection hence the aircraft had a lower value than expected.
Yesterday, Icelandair announced in a short statement that all discussions between the parties have ended.
On Monday morning, one flight between Reykjavik and London Gatwick was canceled, according to the airline the cancellation was due to operational reasons: an Airbus A321 (TF-PRO) got grounded in Montreal, Canada with an engine issue. But other sources are writing that the aircraft has been repossessed. Another Airbus A321 (TF-NOW) that landed at Miami, U.S. allegedly has also been taken back by the lessor.
Throughout the day, the airline cancelled more flights, 20 flights thus far have been cancelled according to the official WOW Air website:
This post was published on 25 March 2019 15:00
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