Icelandair has pulled out of its plan to acquire Wow. Both airlines have issued statements.
This is an extremely bad omen, because it will cause investors, creditors and - crucially - existing and potential customers to wonder what Icelandair has found that has caused them to pull out of this deal. Wow already has a tightening cash flow situation and creditors have been tightening the noose; only yesterday, it announced the return to lessors of four of its aircraft.. Loss of confidence by its customers can only add to its woes.
https://www.flightglobal.com/news/ar...keover-454008/
https://www.jetphotos.com/photo/9123781
This is an extremely bad omen, because it will cause investors, creditors and - crucially - existing and potential customers to wonder what Icelandair has found that has caused them to pull out of this deal. Wow already has a tightening cash flow situation and creditors have been tightening the noose; only yesterday, it announced the return to lessors of four of its aircraft.. Loss of confidence by its customers can only add to its woes.
https://www.flightglobal.com/news/ar...keover-454008/
https://www.jetphotos.com/photo/9123781
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