Icelandair Group pulls out of Wow Air discussions

Wow Air’s future appears increasingly uncertain after Icelandair Group ended newly-initiated discussions with the airline. Wow Air had entered talks with Icelandair Group March 21 after previous potential suitor Indigo Partners pulled out of investment negotiations. But Icelandair Group says a possible involvement in Wow’s operations “will not materialise”. The talks had originally been due to continue until 25 March. Icelandair Group’s renewed interest in Wow marked the second time the two sides had embarked on tie-up discussions. It had previously disclosed, in November last year, that it intended to take over Wow, which was suffering heavy losses. But pre-conditions for a shareholders’ meeting on the acquisition were not met. <br/>