WOW Air bondholders agree to convert debt to equity
WOW Air has won approval from its bondholders to convert debt to equity following the recent collapse of talks with 2 potential investors. In a brief notice to investors March 26, the carrier said: “Bondholders have formally approved to convert their bonds into equity and formal discussions with investors have commenced to fund the company. This is an important milestone in financially restructuring the company and securing the long-term sustainability of WOW Air.” The note gave no indication as to the amount of debt or percentage of the airline’s equity now held by the bondholders. Nor was there any indication of the position of WOW Air founder, CE and majority shareholder Skúli Mogensen. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-03-27/unaligned/wow-air-bondholders-agree-to-convert-debt-to-equity
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WOW Air bondholders agree to convert debt to equity
WOW Air has won approval from its bondholders to convert debt to equity following the recent collapse of talks with 2 potential investors. In a brief notice to investors March 26, the carrier said: “Bondholders have formally approved to convert their bonds into equity and formal discussions with investors have commenced to fund the company. This is an important milestone in financially restructuring the company and securing the long-term sustainability of WOW Air.” The note gave no indication as to the amount of debt or percentage of the airline’s equity now held by the bondholders. Nor was there any indication of the position of WOW Air founder, CE and majority shareholder Skúli Mogensen. <br/>
