Icelandair Abandons Plans for Wow Air Acquisition

By Anna Breuer on 29 November 2018
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DSC_0289Icelandair’s proposed acquisition of low-cost carrier Wow Air has been cancelled.

“The planned acquisition of Icelandair Group of Wow will not go through,” said interim Icelandair CEO Bogi Nils Bogason in a statement, adding that “this conclusion is certainly disappointing.”

Icelandair said that the two airlines were unable to settle all the conditions set forth in the November 5 purchase agreement by Friday and that its board of directors would not recommend that shareholders vote in favor of the deal.

The airline did not say what the conditions were that couldn’t be met.

(Photo: Accura Media Group)

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