The firm called off: the Airline close to bankruptcy

After four months of attempts to save the airline WOW air from bankruptcy is the bailout plan passed in the sink.

Negotiations with both Icelandair and the us private equity fund Indigo Partners is gone in the sink over the weekend.

The writing flymediet check-in.dk.

Thus leaning the WOW air out of a bankruptcy. The first nine months of 2018 bled the company of 225 million kroner, and in december fired WOW air 111 employees and cut down on the number of routes.

Then began the WOW air to negotiate with Icelandair in order to avoid an economic collapse.

the Negotiations did not last long though, and shortly after it opened talks with Indigo Partners.

They did together in the last week, and subsequently resumed WOW air and Icelandair their negotiations. However, it did only a few days.

'Icelandair has decided that the company's possible involvement in the WOW air's operation as a notified 20. march 2019 will not be realized,' notify Icelandair according to the check-in.dk.

From the WOW air's announcement that they are working on to convert debt into share capital, so the airline can be saved.

'A majority of WOW air's bondholders and other creditors are in advanced discussions to reach an agreement on a voluntary restructuring, including an agreement to convert current debt to share capital and the finance company against a long-range financial sustainability. Further information will be given tomorrow (Monday, ed.),' sounds like it according to the check-in.dk from WOW air.

According to the branchemediet to WOW air pay, what is equivalent to 8.3 million in interest on the obligationlån from the fall, and it is according to the check-in.dk money, as the company does not have.