Indigo Partners, WOW Air cancel negotiations

WOW Air A320
Photo: © Marvin Mutz

Indigo Partners LLC and Icelandic airline WOW Air have cancelled their negotiations concerning the takeover of the financially struggling low-cost carrier.

Subsequently, WOW Air has restarted discussions with Icelandair Group. The two parties aim to conclude negotiations by March 25, WOW Air said in a press release.

In November 2018, Icelandair had already reached an agreement concerning the takeover of its struggling rival airline WOW Air. However, the deal was cancelled at the end of November and WOW Air started negotiations with the investment firm Indigo Partners, which is already a major investor in the airline industry. It owns several big low-cost carriers, including Frontier Airlines and WizzAir.

Since entering the restructuring process at the end of last year, the low-cost carrier downsized its fleet, dropped several destinations and reduced its workforce.