A new low cost carrier is set to fly in Iceland. PLAY airlines intends to launch sales before the end of the year, connecting passengers between Keflavik and European destinations. The company expects to expand to North American destinations in Spring 2020, using Iceland as a hub to connect passengers between the two continents.
Want to fly on the relaunched WOW Air? Better grow gills. And be dead. The company now expects to relaunch as a cargo operator rather than a passenger carrier, assuming it ever gets off the ground at all.
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.
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.
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. 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 is no more. After multiple failed attempts to secure additional funding to continue operations the Icelandic LCC formally ceased operations Thursday morning.
The future outlook for Icelandic LCC upstart WOW Air is more bleak than ever. No one wants to touch the operation, it would seem.
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.
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.