Yesterday, WOW Air announced that it was in advanced discussions with a majority of its bond holders and other creditors to reach an agreement on a voluntary restructuring that would include converting current debt into equity and “fund the company towards long term sustainability”. Also, yesterday, Icelandair announced that its possible involvement in WOW air’s operations “will not materialize” and that all discussions between the parties have ended. Indigo Partners pulled out of discussions to acquire WOW on March 21, presumably related to the airline’s worsening financial condition. WOW Air announced on March 9 that it was in breach of
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