WOW-Icelandair deal returns to the table
Struggling low-cost carrier WOW Air has re-opened talks with rival Icelandair after a rescue deal lined up with a US investor collapsed.
With just days to go before Wow must present a rescue plan to creditors, Icelandair confirmed it had agreed to get back round the table with the airline, which offers budget flights from the UK to the US and Canada via Reykjavik.
Wow had been hoping to sell a 49% stake to US private equity fund Indigo Partners in return for a minimum $75 million investment over 10 years, but the deal fell through this week.
Last month, the airline’s lenders agreed to give it until March 29 to come up with a rescue plan. It is understood that talks with Icelandair, which involve the Icelandic authorities, will conclude by March 25.
Icelandair last year pulled out of an all-share deal to buy privately-held Wow, which has said it will reduce its fleet from 20 to 11 aircraft and cut 111 jobs to reduce its debts.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025