Wow Air Founder Plans Reboot

By Anna Breuer on 5 April 2019
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A Wow Air aircraft in San Francisco

A Wow Air aircraft in San Francisco

The founder of bankrupt Wow Air in Iceland is hoping to resurrect the failed airline.

Skúli Mogensen, who founded Wow, is trying to raise $40 million in return for a 49% stake in the company.

The news was first reported in the Morgunblaðið, a major Icelandic newspaper.

Mogensen said that the airline, once flying again, would operate charter flights using five Airbus aircraft in order to obtain an operating certificate. It would also make offers for assets from Wow’s estate including the company name.

He said that Wow Air would expand faster than it previously had, promising to have seven Airbus aircraft in the air in 2020.

An investment banking concern, Arctica Finance, has already held meetings with Sveinn Andri Sveinsson, one of the two people charged with liquidating Wow Air in bankruptcy.

(Photo: Accura Media Group)

Accura News

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