Monday, 25 March 2019

Time is running out for WOW as plane is impounded

The end of WOW air, the Icelandic budget airline could very well be about to happen as the airline cancels a number of flights over the next couple of days. Flights to Chicago, Milan, Pitsburg, Barcelona, Brussels and Cuba have all been cancelled and we're told this is due because of at least one aircraft, an Airbus A321 TF-PRO has been impounded in Montreal for non-payment of aircraft leases.  It's also understood that sister aircraft TF-NOW has also been impounded and is owned by the same leasing company 'Jin Shan Ireland Co Ltd'.

Can the airline secure more funding from its bond holders to pay those bills and get the aircraft flying again?   It's not looking promising. 




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