Ultra Lowcoster WOW Air stopped an activity
Created on 08.04.2019 09:04
Icelandic budget carrier WOW Air has stopped all flights. After unsuccessful completion of negotiations with potential investors, the ultra-lowcoster stopped its activity.
Wow Air, which last year aggressively expanded the network of low-fare routes, both long haul across the Atlantic and within Europe, severely undermined its financial condition and was looking for a way out of this situation by attracting investments.
In the past four months, the airline has twice negotiated with Icelandair, the national carrier of Iceland, about the merger, as well as with Indigo Partners, the US private equity fund, which offered to buy out a 49% stake in WOW Air. All negotiations ended in failure.