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

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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.
André
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sn26567
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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!
André
ex Sabena #26567

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