WOW Air returns aircraft to lessor

[SMT Member]

Apparently a planned sale and leaseback operation didn't go through, leaving WOW Air short of 25M USD and unable to fulfil their financial obligations. As a consequence thereof, they've had to return 4 aircraft to lessors; 2 x A330 and 2 x A320.

Not a good sign ...

http://standbynordic.com/wow-returns-four-planes-in-cash-crunch/

[Wycombe]

Noticed the 2 330's (TF-LUV and TF-WOW) overflying the UK around 2300 on Tuesday evening, en route to Lourdes (presumably for storage)

[akerosid]

Things getting worse for Wow today; Icelandair has pulled out of its planned acquisition.

This can only damage the airline's prospects further, as creditors, investors and potential (and indeed, existing) customers ask why FI has decided to pull out.
https://www.flightglobal.com/news/articles/icelandair-group-scraps-wow-air-takeover-454008/

[Sqwak7700]

When the tide goes out, you get to see who is swimming without a bathing suit.

I guess Wow was swimming “al fresco”. Me thinks many more to come.

[nicolai]

WOW now has insufficient aircraft to operate their schedule (let alone any planned routes). They'll probably cancel (or suspend) their LAX route next.

[STN Ramp Rat]

and they are rescued (almost)

https://www.cnbc.com/2018/11/30/bill-frankes-indigo-partners-to-buy-a-stake-in-icelands-wow-air.html

[Half-Day.Henry]

Fingers crossed for all.

[babemagnet]

WOW air seeks to delay payment of airport fees - report

from the chaviation website. How is wow air doing any news?

[oceancrosser]

WOW air seeks to delay payment of airport fees - report

from the chaviation website. How is wow air doing any news?

Well they have a looming deadline February 28th... If they make it past that time, strikes in Iceland in March and April may finish them. No airplane “returned to lessor” (or repossed) has been deregistered in Iceland, so lessors are probably still writing monthly bills.