WOW Air has ceased operations, all flights cancelled and filing for bankruptcy

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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by sn26567 » 24 Dec 2018, 18:08

WOW air has signed a sale and purchase agreement with Air Canada to sell four A321s that WOW has had on finance lease since 2014. Delivery of the aircraft scheduled for January 2019. The deal will improve WOW air’s liquidity by more than US$12 million.

WOW air will be moving its London Gatwick service to London Stansted, effective 31 March 2019. In addition, it will be reintroducing its Edinburgh-Keflavik route following a seasonal pause, with flights commencing in June 2019.
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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by sn26567 » 12 Jan 2019, 22:01

WOW air announces that Indigo Partners (US) intends to adequately capitalise WOW through the turn-around, via a convertible loan with a 10-year maturity. The initial shareholding of Indigo Partners will be 49%, with more equity on the table should the conversion option be exercised during the tenor of the loan.

Otherwise, WOW air will now operate service from Reykjavik Keflavik to London Stansted, rather than London Gatwick, from 31 March 2019, with A321. Probably cheaper!
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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by sn26567 » 28 Feb 2019, 21:06

WOW air has now fulfilled all conditions required for its purchase by Indigo Partners (US) and the two parties are now working to finalise the acquisition.
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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by sn26567 » 22 Mar 2019, 00:05

Never say never!

Wow Air resumes talks with Icelandair as Indigo walks away

Indigo Partners has cancelled its proposed investment in Icelandic low-cost carrier Wow Air, prompting the airline to resume talks with Icelandair Group.

Wow Air says it aims to conclude talks with Icelandair Group by 25 March.

https://www.flightglobal.com/news/artic ... lk-456829/
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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by JustPlanes » 23 Mar 2019, 13:34

With the MAX grounded this may be a good time for Icelandair to acquire WOW and some Airbuses just to make sure they have the frames needed to complete their summer schedule...

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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by sn26567 » 24 Mar 2019, 19:06

Negotiations were very short: Icelandair Group ends discussions with WOW air.

And now what? Bankruptcy?
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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by TLspotting » 24 Mar 2019, 20:40

Queen of the bankruptcies, another bites the dust (not yet)

But seriously this airline business becomes really interesting in how many time they searched solutions without finding any concrete one.

Jet Airways and WOW air are both threatened.

Jet Airways pilots will strike in 8 days if they are not paid while WOW pilots are paid, without any major strike...
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by luchtzak » 24 Mar 2019, 23:56

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. Further information will be given tomorrow.

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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by Passenger » 28 Mar 2019, 08:36

https://wowair.com/travel-alert/

TRAVEL ALERT

WOW air is in the final stages of finalizing equity raise with a group of investors. All flights have been postponed until documentation with all parties involved have been finalized.

Further information will be given at 9 am.

All passengers have been informed via text message/email to the contact details listed in the booking. Passengers scheduled on flights to/from Iceland with WOW air on Thursday March 28th are entitled to cancel their reservation for a full refund or change their reservation to the next available WOW air flight.

WOW air apologizes for the disruption to travel plans.

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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by eagleheart » 28 Mar 2019, 09:25

And it's over..

https://wowair.com/travel-alert/

End of Operation of WOW AIR

Information for WOW AIR passengers
WOW AIR has ceased operation. All WOW AIR flights have been cancelled.
How will I reach my destination?
Passengers are advised to check available flights with other airlines.

Some airlines may offer flights at a reduced rate, so-called rescue fares, in light of the circumstances. Information on those airlines will be published, when it becomes available.

..............

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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by cathay belgium » 28 Mar 2019, 09:41

Hi,

Going transatlantic on LCC is hard... Primera,WoW,.. how many months yet for Norwegian...
The fairy tale is almost over of Low cost to USA...

Will miss the colour and regs ...

CXB
New types flown : A223,AN24,AW139,B737MAX8,B763nonER,DH Dragonrapide,EMB110 Bandeirante, Shorts360,Autogire MTOsport2010


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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by AvGeek » 28 Mar 2019, 10:27

Hello all! I've been reading you a lot in the past months and I now decided to join!

Reading this, I'm just wondering if it was not in the advantage of Icelandair to have those negotiations and never go through with it... Competition is now killed.

It's really a shame to see another company disappear...

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Re: WOW Air has ceased operations, all flights cancelled and filing for bankruptcy

Post by sn26567 » 28 Mar 2019, 11:53

Welcome to Aviation24.be, AvGeek.
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Re: Icelandair Group to acquire low-cost airline WOW air, or not?

Post by Acid-drop » 28 Mar 2019, 12:15

cathay belgium wrote:
28 Mar 2019, 09:41
Hi,

Going transatlantic on LCC is hard... Primera,WoW,.. how many months yet for Norwegian...
The fairy tale is almost over of Low cost to USA...

Will miss the colour and regs ...

CXB
Why do they fail exactly ?
Wrong aircraft ?
They need the max to get serious things started ?
My messages reflect my personal opinion which may be different than yours. I beleive a forum is made to create a debate so I encourage people to express themselves, the way they want, with the ideas they want. I expect the same understanding in return.

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Re: WOW Air has ceased operations, all flights cancelled and filing for bankruptcy

Post by sn26567 » 28 Mar 2019, 12:22

Wizz Air offers a special rescue fare for all WOW Air customers whose flights from or to Reykjavík to Warsaw and London Stansted and London Gatwick were cancelled following WOW Air’s bankruptcy.

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Re: WOW Air has ceased operations, all flights cancelled and filing for bankruptcy

Post by Boeing767copilot » 28 Mar 2019, 12:29

Former SN-spokesman on his Facebook-page:

A year ago, the VRT brought all the resources for a Pano over aviation. One of the insights was that WOW Air was still an example for the future ... A camera crew even went to Reijkavik for a "portrait" of that Icelandic future. Real experts who have long seen the WOW bubble coming were not covered in the Pano recipe - which, however, usually uses a quality mark that is investigative and critical and which fulfills it well - is not covered. Some journalistic reflection is also allowed today ...
(by Google translate)

I think he has a point, not?

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Re: WOW Air has ceased operations, all flights cancelled and filing for bankruptcy

Post by TLspotting » 28 Mar 2019, 15:19

WOW2.JPG
D2vWuc8WoAATfo_.jpg
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: WOW Air has ceased operations, all flights cancelled and filing for bankruptcy

Post by TLspotting » 28 Mar 2019, 19:11

Image
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: WOW Air has ceased operations, all flights cancelled and filing for bankruptcy

Post by sn26567 » 01 Apr 2019, 21:19

The WOW Air bankruptcy could impact Iceland’s GDP by 3% and weaken the Króna by as much as 13%, according to a local government task force. Other forecasts claim as much as a 10% drop in exports and a 6% increase in inflation.
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