As the transatlantic market is making low-cost airlines look low



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Raphael Meulders (with AFP)

Posted in

Tuesday, March 26, 2019 at 10:36

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Tuesday, March 26, 2019 at 10:47

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It would be a small catastrophe for Iceland: the low-cost company Wow Air is on the verge of bankruptcy and sinking, would bring a decline in the country's GDP of 3%, the fall of the crown and an increase in inflation. That is at least what the Icelandic government predicted. Because the future is more than uncertain for the company that currently carries more than a third of travelers in Iceland. Negotiations for a low-cost acquisition of the company by its competitor Icelandair or by the investment fund Indigo Partners failed. Wow Air, which has no more investors to wait for a recovery, now plans to restructure its debt to save itself.

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