Originally Posted by
sailingfun
WOW was in deep trouble. I suspect Iceland air will shut them down over time or merge the operations. The business model of selling tickets below your cost to produce the seat strangely was not profitable.
Yes you are correct, WOW was in a desperate position sadly. I do agree that they will eventually merge the two operations but that’s up for debate. Icelandair purchased WOW only utilizing stock shares giving the owner of WOW 5.4% of Icelandair Groups shares. Plus Icelandair has over 5 years worth of cash reserves. How this is defined as Icelandair is in financial trouble is beyond me 🤷🏼*♂️