And WOW’s cash flow challenges are significant. Shrinking to survive rarely works in the aviation industry. LAX service appears to be the choice, with inventory removed from sale for many flights, but the carrier remains quiet on an official schedule update. Read More: WOW wins as it faces mounting troublesįollowing the lease returns the company operates a single A330 and publishes a schedule that requires at least three frames. This allows for optimal connections to European destinations but significantly reduces aircraft utilization. Moreover, the Los Angeles service includes the aircraft spending the night rather than returning straight to Iceland. Due to flight distances both destinations require an A330 for service. Most at risk are the Los Angeles and Delhi routes. It no longer has sufficient aircraft to operate its published schedule. Winter demand and fares drop significantly across the Atlantic but the fleet cuts put WOW in a tough spot. A fifth aircraft is operating in the Americas under a lease agreement. All our best wishes go out to the owners and staff of the Wow air.” – Bogi Nils Bogason, Interim President & CEO of Icelandair Group Read More: Icelandair gobbles up WOWįacing a cash crunch, the carrier returned four aircraft – 20% of its fleet – to lessors earlier this week. We want to thank WOW air‘s management for a good cooperation in the project during recent weeks. This conclusion is certainly disappointing. The Board of Directors and management of both companies have worked on this project in earnest. “The planned acquisition of Icelandair Group of Wow air will not go through.
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