What is written above is incorrect.
Indigo Partners has NOT invested in WOW. They have agreed to invest, IF unspecified terms are met and all due diligence proceedings do not dig up any new issues.
They are basically WOWs best and only hope, since FI already decided, after their DD, that WOW is a goner.
Irregardless, we'll know by tomorrow. The deadline for Indigo Partners investment is by 28th of February. I can't imagine this deadline being extended, since it would put WOW into even weaker position.
If Indigo Partner decides not to invest, I'll imagine WOW will fold, unless saved by the government.
I would imagine FI would lobby for not saving WOW, but rather do a bulk takeover of their operations if it comes to that.
The thing is that since ISK is such a small currency, any significant investment by IP should be preceded by commensurate ripples in the FX market. This certainly was the case previously. They can't simply dump tens of millions of dollars into the market without some visible effect. There have been no ripples of any kind during the last week or two. Then again, maybe someone has dialed up Seðlabanki Íslands and asked them to assist with it...
Edit: same thing ("we'll know tomorrow") said here:
https://turisti.is/2019/02/urslitast...-air-a-morgun/
Edit2: the deadline was set by WOW bond holders. WOW has effectively already defaulted on their bonds and this was their chance to "right the ship".
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DJ