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Icelandair abandons its project to buy competitor Wow Air. Stock Photography
The Icelandair airline Icelandair is abandoning its plans to buy low-cost Icelandic competitor Wow Air. On the Reykjavik Stock Exchange, Icelandair shares fell by more than 10% after the announcement.
Wow Air announced a pre – tax loss of nearly $ 60 million for the first six months of the year and on Monday Icelandair announced that it was unlikely that all the conditions of the year would be met. agreement are respected.
Now Icelandair has set foot.
"The planned acquisition of Wow Air by Icelandair will not be implemented, and this conclusion is certainly disappointing," commented Icelandair's director Bogi Nils Bogason.
In addition to Iceland, the Icelandic krona also raged while a Wow Air bankruptcy would result in inflation and would result in the unemployment of 1,400 Icelanders. According to a government-appointed working group in Reykjavik, there is a risk that the Icelandic kroon will rage 13% during a Wow Air bankruptcy.
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