Icelandair Group announced on November 29 that in the light of the worsening financial situation at WOW Air that the purchase agreement signed on November 5, has been cancelled. Both parties agree on this outcome, the airline group confirmed. Icelandair Group warned in a stock exchange release last Monday (November 26) that it would be unlikely that all of the conditions in the share purchase agreement would be fulfilled by the shareholders’ meeting on November 30. In a statement, Icelandair said that it is “unlikely” that the Board of Directors of Icelandair Group would recommend to the shareholders that they
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