Wednesday, 26 December 2018

WOW air cuts even more aircraft from its fleet

The discounted low-cost airline from Iceland, WOW air has been forced by financial constraints to cut its fleet even further.  Following returning four aircraft to their lessors last month, WOW has confirmed it will be selling four aircraft to Air Canada.

As part of an ongoing restructuring process, the airline is selling four new Airbus A321 aircraft, that is has taken on financial leases due to arrive next month. The aircraft have been sold to the national carrier of Canada, Air Canada and is expected to increase WOW air's liquidity by more than $12 million.”

In another effort to cut costs, the carrier is also moving its popular Keflavik to London service from Gatwick to Stansted. The move will take place at the end of March next year  “We saw really high demand over the summer from passengers choosing WOW’s flights to Reykjavik and beyond to destinations across the US, and inbound tourism to London and the east of England,” claimed Mats Sigurdson for the airline. The move follows the curtailment of a number of US destinations from the route network and the axing of over 100 staff.

Aviation investment company Indigo Partners is said to be still investigation and negotiation over a complete take over package of WOW air.