Most WOW flig­hts on schedule today as Mo­gensen tries to save the air­line

Almost all WOW air flights are on on schedule today as the CEO and founder Skúli Mo­gensen tries to save the air­line from bankruptcy, follow­ing the dis­soluti­on of negotiati­ons with Icelanda­ir Group yester­day.

All WOW air flights from Ice­land today were on schedu­led this morn­ing except the flight to Gatwick Airport in London. That flight was cancelled because of a problem with the airplane on the ground in Canada yesterday.

Since Thurs­day even­ing, Icelanda­ir had consi­d­ered buy­ing WOW air in part or in full. Accord­ing to Bogi Nils Boga­son, CEO of Icelanda­ir, too much risk was in­volved in in­vest­ing in the comp­any.

Accord­ing to a WOW air announcement last nig­ht, the comp­any is now work­ing to reach an agreement with the maj­o­rity of its cred­itors that the comp­any’s debt will be largely con­verted into equity and that the same parties will provi­de the comp­any with fund­ing for its operati­ons un­til it reaches “sustaina­ble operati­ons”. These talks took place over the week­end, simulta­neously to the negotiati­ons with Icelanda­ir.

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