Icelandic airlines Wow Air and Icelandair restart talks
COPENHAGEN, March 22 (Reuters) - Low-cost carrier WOW Air
has restarted talks with rival Icelandair after
negotiations with another investor failed, the two Icelandic
airlines said late on Thursday.
Indigo Partners, a private equity fund managed by veteran
low-cost airline investor Bill Franke, cancelled its proposed
Icelandair said its board had now agreed to start
discussions with WOW air about the "involvement in its
Icelandair last year scrapped an all-share deal to buy the
Wow Air faces pressure from creditors and lessors and has
already said it will reduce its fleet to 11 aircraft from twenty
and cut 111 jobs.
Icelandic authorities will be involved in the discussions,
which are expected to conclude by March 25.
(Reporting by Stine Jacobsen. Editing by Jane Merriman)
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