Wow air, Indigo Partners talk $75 M investment
Indigo Partners investment into Wow air could mean a $75 million financial boost for the Icelandic carrier.
Negotiations between Wow air and Indigo Partners are moving forward, the company revealed on December 14, 2018. If the deal goes through, the struggling Icelandic low cost carrier will receive up to $75 million from the U.S. investor. But only if the two parties actually manage to complete the acquisition before the deadline set at the end of February 2019.
After Icelandair Group has unexpectedly walked away from its plan to take over Wow air in late November 2018, the Icelandic low cost carrier was left to fend for itself. Awaiting how the negotiations with Indigo Partners will play out, the carrier began restructuring process, cutting its fleet by (almost) half and laying off hundreds of employees.
The whisperer of low cost airlines
Indigo Partners is a private equity and venture capital firm based in the United States. The company is known for its multiple investments into ultra low cost airlines in Latin America, the United States and Europe. Currently, it has investments in Wizz Air (Europe), Frontier Airlines (U.S.), Volaris Airlines (Mexico), JetSmart (Chile). Previously, the company was also a lead investor in Tiger Airways (Singapore) and Spirit Airlines (U.S.).
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