Icelandic low cost carrier WOW and Indigo Partners, the US based aviation investment company that owns several low cost airlines, have ended negotiations for a takeover.
WOW has had to savagely cut it’s fleet, ending it’s long haul operations and retaining barely half of its peak numbers. It’s now flying just 11 aircraft.
As a result the airline is back in negotiations with Icelandair Group and hopes to conclude an agreement by March 25th.
If it fails it’s hard to see how it will carry on. Either way it’s negotiating position will be severely weakened. With no other likely saviour on one hand, and Icelandair not overly bothered if its main competition went under, its position is weak.