As detials on the new WOW Air plans emerge the business model remains an interesting proposition. With a heavy focus on cargo in a softening market and premium passenger experiences with low fares it is unclear how this company will truly deliver for its investors.
Iceland
The bizarre backing behind WOW Air, redux
What do cargo operations in Djibouti, negotiations with Somali pirates, and covert intelligence operations have to do with a failed Icelandic airline? Michele Ballarin is about to show us all.
WOW Air assets sold to investors
What’s next for bankrupt WOW Air? No one really knows, though maybe the team that just bought most of its assets has a plan.
WOW Air is Dead; Long Live WAB Air
WOW Air is dead. Completely dead. The planes are mostly off flying for other airlines while the true financial impact of the collapse remains u der debate. And yet. Perhaps there is a chance for another life for the flashy, LCC after all?
WOW Air halts operations; all flights canceled
WOW Air is no more. After multiple failed attempts to secure additional funding to continue operations the Icelandic LCC formally ceased operations Thursday morning.
Indigo walks from WOW Air
How many chances does WOW Air get to survive? Indigo Partners walked away this week, leaving significant uncertainty over the future of the carrier. Further clarity is expected by Monday.
WOW loses Icelandair as suitor and savior, future uncertain
Thus begins the death spiral of WOW Air.
Icelandair will no longer purchase its struggling neighbor after indicating it “unlikely that all of the conditions in the share purchase agreement would be fulfilled by the shareholders’ meeting on November 30th.” With WOW unable to sort out the conversion of its recently issued bonds and warrants into a form that Icelandair can purchase (for pennies on the dollar) the deal is off. This leaves very little chance of a positive outcome for WOW Air.
WOW wins as it faces mounting troubles
Can a collapsing operation still win awards? For WOW Air the answer is a resounding yes. The CAPA Low Cost Airline of the Year award was announced as the carrier shed 20% of its fleet amid a cash crunch and dropping utilization.
Icelandair gobbles up WOW
WOW Air is dead. Long live WOW Air. The Icelandic LCC is set to be purchased by hometown rival Icelandair at what can only be described as a fire sale price.
Icelandair comes up short on revenue, loses its CEO
Icelandair faces a significant revenue shortfall in 2018 owing to growing competition and mistakes in growing its route network. The parent company of the airline also needs to find a new CEO. Björgólfur Jóhannsson took full responsibility for the missed numbers and tendered his resignation to the Icelandair Group Board of Directors.