WOW headed for bankruptcy [operations ceased 28 March 2019]
Mar 25, 2019, 7:28 pm
#46
Join Date: Apr 2016
Posts: 297
Edit: TF-PRO is stuck in Montreal as of March 24: https://flight-data.adsbexchange.com/map?icao=4CC504&date=2019-03-24
https://flightaware.com/live/flight/TFDOG has been in Frankfurt for over a day.
Seems like it's https://www.radarbox24.com/data/regi...SKY#1268552443 that went from Brussels to Montreal to do the pickup (via KEF on a repositioning flight). But this doesn't appear on FlightRadar?
Strange.
Last edited by tecate55; Mar 25, 2019 at 8:03 pm
Mar 26, 2019, 8:58 am
#47
Join Date: Jun 2015
Programs: AY+, SK EB
Posts: 2,962
For the very moment it looks like WW managed to avoid the abyss.
https://wowair.is/investors/media/
WOW air bondholders approve to convert their bonds to equity
Reykjavik, Iceland – March 26, 2019
Reference is made to a market announcement of WOW air (“WOW“), dated March 24 2019, regarding WOW air’s advanced discussions with bondholders about voluntary restructuring including an agreement of converting current debt into equity.
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 secure the long-term sustainability of WOW air.
Reykjavik, Iceland – March 26, 2019
Reference is made to a market announcement of WOW air (“WOW“), dated March 24 2019, regarding WOW air’s advanced discussions with bondholders about voluntary restructuring including an agreement of converting current debt into equity.
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 secure the long-term sustainability of WOW air.
Last edited by Jainzar; Mar 26, 2019 at 2:06 pm Reason: Added Quote
Mar 27, 2019, 9:21 pm
#49
Join Date: Apr 2016
Posts: 297
Lots of chatter suggesting that tonight's YYZ-KEF flight is cancelled
https://twitter.com/search?src=typd&q=wowair
tf-gma was in Toronto, but has been delayed for over 4.5 hours now.
If it takes off at 0018, I don't think anyone will make any connections in KEF.
Today's flight from YUL was cancelled:
https://www.flightradar24.com/data/flights/ww252
despite there being a WOW plane that landed there earlier this afternoon:
https://flightaware.com/live/flight/TFJOY
https://twitter.com/search?src=typd&q=wowair
tf-gma was in Toronto, but has been delayed for over 4.5 hours now.
If it takes off at 0018, I don't think anyone will make any connections in KEF.
Today's flight from YUL was cancelled:
https://www.flightradar24.com/data/flights/ww252
despite there being a WOW plane that landed there earlier this afternoon:
https://flightaware.com/live/flight/TFJOY
Last edited by tecate55; Mar 27, 2019 at 9:35 pm
Mar 27, 2019, 9:36 pm
#50
Join Date: Apr 2016
Posts: 297
All flights cancelled, or sorry, "postponed", until ???:
https://wowair.com/travel-alert/
WOW air is in the final stages of finalizing equity raise with a group of investors. All flights have been postponed until documentation with all parties involved have been finalized.
Further information will be given at 9 am.
All passengers have been informed via text message/email to the contact details listed in the booking. Passengers scheduled on flights to/from Iceland with WOW air on Thursday March 28th are entitled to cancel their reservation for a full refund or change their reservation to the next available WOW air flight.
WOW air apologizes for the disruption to travel plans.
Further information will be given at 9 am.
All passengers have been informed via text message/email to the contact details listed in the booking. Passengers scheduled on flights to/from Iceland with WOW air on Thursday March 28th are entitled to cancel their reservation for a full refund or change their reservation to the next available WOW air flight.
WOW air apologizes for the disruption to travel plans.
Last edited by NWIFlyer; Mar 28, 2019 at 5:53 am Reason: Remove Twitter post containing multiple profanities
I see some rumors floating around saying they are restarting talks with Indigo. Is that true?
Mar 28, 2019, 12:52 am
#52
Join Date: Jul 2001
Programs: Marriott LT Tit; Hyatt Explorist; Hilton CC Gold; IHG CC Plt; Hertz (MR) 5 star
Posts: 5,536
This airline's dead. It's all over except for the final gasp of air. It's been given its last rites and is now ready to bury alongside many other dead airlines that think selling tickets for below cost is a viable strategy. Norwegian Air will be joining them shortly in the airline graveyard. Good riddance to both of them. They are scourges of the industry and fill naïve flyers with an unreasonable expectation of the costs of flying aircraft.
I have to laugh at WoW's bondholders for 1) chasing high returns on such a sketchy operation - almost always guaranteed to turn out poorly, and 2) being even dumber to take an equity position in this pig. They would have put their money to more productive use if they had thrown that money in their fireplace to keep them warm during the winter.
I have to laugh at WoW's bondholders for 1) chasing high returns on such a sketchy operation - almost always guaranteed to turn out poorly, and 2) being even dumber to take an equity position in this pig. They would have put their money to more productive use if they had thrown that money in their fireplace to keep them warm during the winter.
Mar 28, 2019, 2:49 am
#54
Join Date: Apr 2008
Location: Bridport, Dorset
Programs: Mucci, BA Bronze, Hilton Gold
Posts: 2,130
A real shame.
Some details
WOW Air has ceased operation - cancelling all flights with immediate effect
https://www.independent.ie/life/travel/travel-news/wow-air-has-ceased-operation-cancelling-all-flights-with-immediate-effect-37959654.html
Some details
WOW Air has ceased operation - cancelling all flights with immediate effect
https://www.independent.ie/life/travel/travel-news/wow-air-has-ceased-operation-cancelling-all-flights-with-immediate-effect-37959654.html
Mar 28, 2019, 3:00 am
#55
Join Date: Mar 2007
Location: Berlin
Posts: 1,765
This airline's dead. It's all over except for the final gasp of air. It's been given its last rites and is now ready to bury alongside many other dead airlines that think selling tickets for below cost is a viable strategy. Norwegian Air will be joining them shortly in the airline graveyard. Good riddance to both of them. They are scourges of the industry and fill naïve flyers with an unreasonable expectation of the costs of flying aircraft.
I have to laugh at WoW's bondholders for 1) chasing high returns on such a sketchy operation - almost always guaranteed to turn out poorly, and 2) being even dumber to take an equity position in this pig. They would have put their money to more productive use if they had thrown that money in their fireplace to keep them warm during the winter.
I have to laugh at WoW's bondholders for 1) chasing high returns on such a sketchy operation - almost always guaranteed to turn out poorly, and 2) being even dumber to take an equity position in this pig. They would have put their money to more productive use if they had thrown that money in their fireplace to keep them warm during the winter.
Mar 28, 2019, 3:41 am
#56
Join Date: Dec 2011
Location: DTW
Programs: TK E+, WY, Radisson R
Posts: 2,360
This also has indirect effect on premium fares to Iceland, there was a sale by others to KEF for $1200, well, now even FI isn't offering such low fares, be prepared to pay sky high fares to Europe even in coach.
UA,LH,LX BOS-KEF $1260+ r/t J
Last edited by vincewy; Mar 28, 2019 at 8:22 am
Mar 28, 2019, 4:03 am
#57
Join Date: Jun 2008
Programs: TK*G (E+), IHG Plat Ambassador
Posts: 7,884
ULCC (Ultra Low Cost Carrier) model on TALT market does not work. Period. Too many complexities. FR and U2 are different - they only fly short haul. I fly with FR on 1-1.5 hour flights - no big issues. But on TATL flights I need some basic comfort.
Mar 28, 2019, 4:17 am
#58
Join Date: Jul 2008
Location: Poland
Posts: 87
End of Operation of WOW AIR
Information for WOW AIR passengers
WOW AIR has ceased operation. All WOW AIR flights have been cancelled.How will I reach my destination?
Passengers are advised to check available flights with other airlines.Some airlines may offer flights at a reduced rate, so-called rescue fares, in light of the circumstances. Information on those airlines will be published, when it becomes available.What are my rights?
Passengers whose ticket was paid with a credit card are advised to contact their credit card company to check whether a refund of the ticket cost will be issued.Passengers who bought their ticket from a European travel agent (within the European Economic Area) as a part of a package tour (a package which includes flights and accommodation or other services) are protected by the Package Travel Directive. Those passengers are advised to contact their travel agent to arrange an alternative flight.Passengers who may have bought travel protection, or those passengers whose credit card terms may include such protection, may be entitled to claim compensation and assistance due to delays or travel disruption. However, such compensation is often limited.Passengers may also be entitled to compensation from WOW AIR, including in accordance with European regulation on Air Passenger Rights. In case of a bankruptcy, claims should be filed to the administrator / liquidator.Where can I get up-to-date information?
This announcement will be published and continuously updated on the following websites:- Icelandic Transport Authority: www.samgongustofa.is / www.icetra.is
- Keflavik Airport: www.isavia.is/en
- WOW AIR: www.wowair.com
- Posted at all relevant airports
General information about passenger rights can be found atwww.icetra.is
Mar 28, 2019, 4:36 am
#59
Join Date: Oct 2012
Location: Kent, UK
Programs: M&S Elite+
Posts: 3,658
Mar 28, 2019, 4:58 am
#60
Original Poster
Join Date: Jan 2005
Location: Europe
Programs: UA:1K MM, AF:FB-Platinum; QR: PC Platinum, FI: Saga Gold
Posts: 2,934
Exact same experience. I booked tickets to Iceland for the summer that cost 330 Euros a few days ago [glad I did !!!]; now at 540 Euros. I am actually surprised how blatant they are in doing this when it is so obvious...