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WOW air Cancels Dozens of Flights Amid Collapse Concerns
Source: TravelPulse
Last updated: 10:48 AM ET, Mon March 25 2019
WOW air Cancels Dozens of Flights Amid Collapse Concerns
AIRLINES & AIRPORTS PATRICK CLARKE MARCH 25, 2019
WOW air is canceling dozens of flights just days after losing a key investor in Indigo Partners.
According to the U.K.'s Mirror, the Icelandic budget carrier's Monday morning flight from London Gatwick to Reykjavik was one of the routes impacted.
WOW Air released a list of other impacted flights through Thursday.
Unsurprisingly, the last-minute cancellations sparked some angry responses from passengers on Twitter.
-snip-
WOW air Cancels Dozens of Flights Amid Collapse Concerns
AIRLINES & AIRPORTS PATRICK CLARKE MARCH 25, 2019
WOW air is canceling dozens of flights just days after losing a key investor in Indigo Partners.
According to the U.K.'s Mirror, the Icelandic budget carrier's Monday morning flight from London Gatwick to Reykjavik was one of the routes impacted.
WOW Air released a list of other impacted flights through Thursday.
Unsurprisingly, the last-minute cancellations sparked some angry responses from passengers on Twitter.
-snip-
Read more: https://www.travelpulse.com/news/airlines/wow-air-cancels-dozens-of-flights-amid-collapse-concerns.html
______________________________________________________________________
Source: The Points Guy
Is Wow Air About to Collapse? No Investors, Reported Plane Repossession Provide Bleak Outlook
by Jessica Puckett
7 hours ago
It seems the time has finally come for Wow Air to face the financial music.
After a few months of buyout discussions with airlines and investors, the airline has no investors on the horizon to save it.
Known for its extremely cheap fares from the US to Europe (i.e. roundtrips under $200), the cash-strapped, ultra-low-cost carrier has been on shaky financial footing for months. Wow has been searching for a new investor to provide an infusion of cash, while cutting routes and selling aircraft to trim its costs at the same time.
Last week, a potential investor, private equity firm Indigo Partners, backed out of a deal to save the airline. Indigo has a track record of making bare-bones airlines, like Spirit and Frontier, profitable. Then Icelandair said it had a renewed interest in purchasing Wow, even though it had nixed a deal last year to consolidate with Wow, also Reykjavik-based. On Sunday, however, Icelandair disclosed that all discussions with Wow had ended and that a deal “will not materialize.”
On the heels of this grim news, media reports in Iceland on Monday say that one of Wow’s Airbus A321 aircraft, was repossessed before a passenger flight in Montreal on Sunday. ...
-snip-
by Jessica Puckett
7 hours ago
It seems the time has finally come for Wow Air to face the financial music.
After a few months of buyout discussions with airlines and investors, the airline has no investors on the horizon to save it.
Known for its extremely cheap fares from the US to Europe (i.e. roundtrips under $200), the cash-strapped, ultra-low-cost carrier has been on shaky financial footing for months. Wow has been searching for a new investor to provide an infusion of cash, while cutting routes and selling aircraft to trim its costs at the same time.
Last week, a potential investor, private equity firm Indigo Partners, backed out of a deal to save the airline. Indigo has a track record of making bare-bones airlines, like Spirit and Frontier, profitable. Then Icelandair said it had a renewed interest in purchasing Wow, even though it had nixed a deal last year to consolidate with Wow, also Reykjavik-based. On Sunday, however, Icelandair disclosed that all discussions with Wow had ended and that a deal “will not materialize.”
On the heels of this grim news, media reports in Iceland on Monday say that one of Wow’s Airbus A321 aircraft, was repossessed before a passenger flight in Montreal on Sunday. ...
-snip-
Read more: https://thepointsguy.com/news/is-wow-air-about-to-collapse-no-investors-reported-plane-repossession-provide-bleak-outlook/
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