Tag Archives: Wow Air

Wow Air shuts down and ceases all operations

Wow Air Airbus A321-253N WL TF-DTR (msn 8085) LGW (Antony J. Best). Image: 945644.

Wow Air today has announced its has ended all operations and all flights are cancelled.

The carrier was unable to come to an agreement with any other party, including Indigo Partners and Icelandair.

The company originally started operations on May 31, 2012 using other carriers.

The airlines issued this statement:

 

End of Operation of WOW AIR

Information for WOW AIR passengers

WOW AIR has ceased operation. All WOW AIR flights have been cancelled.

How will I reach my destination?

Passengers are advised to check available flights with other airlines.

Some airlines may offer flights at a reduced rate, so-called rescue fares, in light of the circumstances. Information on those airlines will be published, when it becomes available.

What are my rights?

Passengers whose ticket was paid with a credit card are advised to contact their credit card company to check whether a refund of the ticket cost will be issued.

Passengers who bought their ticket from a European travel agent (within the European Economic Area) as a part of a package tour (a package which includes flights and accommodation or other services) are protected by the Package Travel Directive. Those passengers are advised to contact their travel agent to arrange an alternative flight.

Passengers who may have bought travel protection, or those passengers whose credit card terms may include such protection, may be entitled to claim compensation and assistance due to delays or travel disruption. However, such compensation is often limited.

Passengers may also be entitled to compensation from WOW AIR, including in accordance with European regulation on Air Passenger Rights. In case of a bankruptcy, claims should be filed to the administrator / liquidator.

Route Map:

Top Copyright Photo: Wow Air Airbus A321-253N WL TF-DTR (msn 8085) LGW (Antony J. Best). Image: 945644.

Wow Air aircraft slide show:

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Wow Air and Indigo Partners fail to reach an agreement, Icelandair is back in negotiations

Wow Air Airbus A321-211 WL TF-WIN (msn 7650) AMS (Ton Jochems). Image: 946028.

Wow Air and Indigo Partners have failed to reach agreement on an investment.

Wow Air is resuming discussions with the rival Icelandair Group.

Wow Air issued this short statement:

The proposed investment of Indigo Partners LLC in WOW air has been cancelled by Indigo Partners. Therefore, all negotiations between WOW air and Indigo Partners have been cancelled.

Subsequently WOW air has started discussions with Icelandair Group. The parties aim to conclude the negotiations by Monday, March 25, 2019.

Icelandair Group had previously announced in November 2018 it was moving ahead with plans to take over Wow Air but the first attempt failed.

Read more from Iceland Review: CLICK HERE

Top Copyright Photo: Wow Air Airbus A321-211 WL TF-WIN (msn 7650) AMS (Ton Jochems). Image: 946028.

Wow Air aircraft slide show:

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Wow Air announces $99.99 transatlantic routes from Montreal

First A321neo, delivered on June 21, 2017

Wow Air has made this announcement:

Wow Air is offering travelers departing from Montreal’s YUL airport fares as low as CAD $99.99* to a number of European destinations, for travel between March and May 2019.

Montrealers can now book affordable flights to Reykjavik, Brussels, Berlin, Dublin and London in time for major events and celebrations taking place in spring 2019.

*Based on lowest one-way fare booked on wowair.ca for travel between March and May 2019. Includes all taxes, fees and carrier charges. Restrictions and baggage fees apply.   Available on select flights, only when booking round trip flights. Subject to availability. Lowest advertised fare is exclusive to MyWOW members.

Top Copyright Photo (all others by the airline): Wow Air Airbus A321-253N WL TF-SKY (msn 7694) BWI (Tony Storck). Image: 939133.

Wow Air aircraft slide show:

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Wow Air launches its first route to India

Wow Air Airbus A330-343 TF-GAY (msn 1098) LAX (Michael B. Ing). Image: 935285.

Wow Air (Keflavik), despite its financial concerns, today (December 7) launched its new route to Delhi, India.

The new route will operate three a week  using its only 345-seat Airbus A330-300 (TF-GAY).

Top Copyright Photo (all others by the airline): Wow Air Airbus A330-343 TF-GAY (msn 1098) LAX (Michael B. Ing). Image: 935285.

Wow Air aircraft slide show:

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Indigo Partners and Wow Air discussions progressing

Wow Air Airbus A330-343 TF-GAY (msn 1098)  CDG (Jacques Guillem). Image: 944647.

Indigo Partners has issued this update:

 

Indigo Partners and Wow Air initiated diligence meetings this week in Reykjavik as the initial steps to a potential Indigo investment after the signing of a term sheet last week.  A team from Indigo Partners spent the last two days with Wow Air management to review the business and opportunities of the airline going forward.

The overall process is progressing and both parties are working to finalize the investment.

Issues remaining include Wow’s planned network development, vendor contracts including aircraft leases and certain waivers from Wow’s bondholders. 

“We are very pleased with the visit from Indigo Partners and it’s clear that we can learn a lot from Bill Franke and his team on how to build a successful low cost airline.  I don’t think we can find a better and more experienced partner to bring WOW air to the next level,” said Skuli Mogensen, CEO and founder of WOW air.

Wow is advised in this transaction by Plane View Partners LLC, the U.S. air transportation advisory firm.

About Indigo Partners

Indigo Partners is a private equity firm established by W. A. Franke in 2003 to pursue acquisitions and strategic investments in the air transportation and related industries. The firm was a lead investor in Tiger Airways based in Singapore and Spirit Airlines based in Ft. Lauderdale, Florida, and maintains lead investments in Wizz Air Holdings, Plc, a ULCC with multiple bases in Central and Eastern Europe; Frontier Airlines, a ULCC based in Denver; Volaris Airlines, a ULCC based in Mexico City; and JetSMART, a ULCC based in Chile. Indigo is headquartered in Phoenix, Arizona.

Top Copyright Photo: Wow Air Airbus A330-343 TF-GAY (msn 1098) CDG (Jacques Guillem). Image: 944647.

Wow Air aircraft slide show:

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Icelandair Group’s acquisition of Wow air is cancelled

Icelandair Group issued issued this statement:

The acquisition of Icelandair Group of Wow air, based on a purchase agreement signed on November 5t, 2018 has been cancelled. Both parties agree on this outcome.

Icelandair Group hf. issued a stock exchange release last Monday, November 26, 2018 stating that the company estimated that it would be unlikely that all of the conditions in the share purchase agreement would be fulfilled by the shareholders’ meeting on November 30, 2018. That situation remains unchanged.

Therefore, it is unlikely that the Board of Directors of Icelandair Group can recommend to the shareholders that they agree to the purchase agreement. Furthermore, the Board does not intend to submit to the shareholders’ meeting a proposal to postpone decision-making on the purchase agreement.

Due to this this situation, both parties agree to abandon the aforementioned purchase agreement.

Icelandair Group will hold its shareholders’ meeting on Friday, November 30, as previously announced. An authorisation proposal for the Board to increase the share capital of Icelandair Group is on the agenda of the shareholders’ meeting.

Bogi Nils Bogason, Interim President & CEO of Icelandair Group:

“The planned acquisition of Icelandair Group of Wow air will not go through. The Board of Directors and management of both companies have worked on this project in earnest. This conclusion is certainly disappointing. We want to thank WOW air‘s management for a good cooperation in the project during recent weeks . All our best wishes go out to the owners and staff of the Wow air. ”

Skúli Mogensen, CEO and Founder of Wow air:

“It was clear at the outset that it was an ambitious task to complete all the conditions of the share purchase agreement in this short period. We thank the Icelandair Group’s management team for this challenging project, and also wish the management and staff of Icelandair Group all the best.”

Wow Air returns four Airbus aircraft to its lessors as it restructures

Wow Air Airbus A320-232 TF-BRO (msn 4305)  BWI (Tony Storck). Image: 932689.

Wow Air has issued a regulatory statement that it is downsizing its fleet by four aircraft – one Airbus A320 (TF-BRO), one A321 (TF-DAD) and two A330-300s (TF-WOW and TF-LUV) “as a part of necessary restructuring of the airline and to ensure maximum utility of its remaining fleet.”

 

The aircraft are being put into storage in Europe.

Top Copyright Photo (all others by the airline): Wow Air Airbus A320-232 TF-BRO (msn 4305) BWI (Tony Storck). Image: 932689.

Wow Air aircraft slide show:

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