Icelandair just acquired WOW
Nov 11, 2018, 1:31 pm
#16
Join Date: Jan 2005
Location: Europe
Programs: UA:1K MM, AF:FB-Platinum; QR: PC Platinum, FI: Saga Gold
Posts: 2,934
Judging by media coverage in Iceland there seems to be growing doubt that Icelandair’s takeover of WoW will take place and that WoW will indeed go bankrupt.
First, Icelandair’s pilots - who are paid more/work less than WoW’s - have a clause in their contract that their members and conditions would apply to any company that Icelandair acquires. This would make any business case for rescuing WoW more difficult.
Second, there is speculation that the Antitrust/Competition Authorities in Iceland will only approve the merger if the Board of Directors of WoW is not nominated by Icelandair. This would serve to undermine any potential synergies.
Lastly, there is further speculation that due diligence at WoW is revealing a company in even worse financial condition than originally presumed...
Stay tuned !
First, Icelandair’s pilots - who are paid more/work less than WoW’s - have a clause in their contract that their members and conditions would apply to any company that Icelandair acquires. This would make any business case for rescuing WoW more difficult.
Second, there is speculation that the Antitrust/Competition Authorities in Iceland will only approve the merger if the Board of Directors of WoW is not nominated by Icelandair. This would serve to undermine any potential synergies.
Lastly, there is further speculation that due diligence at WoW is revealing a company in even worse financial condition than originally presumed...
Stay tuned !
Flying on an FI 757 next week.
Nov 26, 2018, 7:16 am
#20
Join Date: Jan 2005
Location: Europe
Programs: UA:1K MM, AF:FB-Platinum; QR: PC Platinum, FI: Saga Gold
Posts: 2,934
Icelandair / WoW merger on ice
Icelandair announced today that it had not been able to complete its due diligence of WoW in time for a scheduled shareholders meeting to vote on the merger. As of now, this is being treated as a "delay" in the merger. Appropriate terminology for airlines
Nov 26, 2018, 9:14 pm
#21
Join Date: Sep 2004
Location: Orlando
Programs: DL DM 2MM (NW+DL) FI Gold
Posts: 787
Additional info here: https://grapevine.is/news/2018/11/26...y-in-jeopardy/
Nov 29, 2018, 3:21 am
#22
Join Date: Jan 2013
Programs: BAEC GfL
Posts: 335
Icelandair scraps WOW takeover more info here
https://www.flightglobal.com/news/ar...keover-454008/
https://www.flightglobal.com/news/ar...keover-454008/
Nov 29, 2018, 7:04 am
#23
Original Member, Moderator: Hotel Deals and MilesBuzz
Join Date: May 1998
Location: Washington, DC
Posts: 14,257
Icelandair scraps WOW takeover more info here
https://www.flightglobal.com/news/ar...keover-454008/
https://www.flightglobal.com/news/ar...keover-454008/
Dec 2, 2018, 6:32 pm
#24
Join Date: Jan 2017
Location: Portland OR
Programs: United 1K 1MM, Marriott Bonvoy Platinum, Hilton HHonors Gold
Posts: 560
WOW may have a lifeline. Almost as soon as Icelandair dropped the acquisition Indigo Partners (owner of Frontier and investor in Volaris and Wizz Air) has agreed to make a significant stake.
https://skift.com/2018/11/29/frontie...lose-patience/
https://skift.com/2018/11/29/frontie...lose-patience/
Dec 10, 2018, 3:13 pm
#25
Join Date: Nov 2006
Posts: 21
Any thoughts on the Flights out of LAX to KEF in Feb? I've read that they will fly once a week, we have friends who have booked to fly Feb 14, and
we are supposed to meet them in Iceland. Would prefer to not get stuck solo, Wow have told them that all the flights are full. If you check the website there is no availability for Jan/Feb/Mar
we are supposed to meet them in Iceland. Would prefer to not get stuck solo, Wow have told them that all the flights are full. If you check the website there is no availability for Jan/Feb/Mar
Dec 10, 2018, 6:13 pm
#26
Suspended
Join Date: Aug 2010
Location: DCA
Programs: UA US CO AA DL FL
Posts: 50,262
Completely unpredictable. If WOW gets its cash, maybe it will operate the schedule and maybe it won't. If it doesn't, maybe it will have ceased operations.
I would certainly book away from WOW until things are very clear. Even in bankruptcy, credit card users won't lose their money, but if it does go under, availability for alternate routings and the cost of those tickets may become a real problem.
I would certainly book away from WOW until things are very clear. Even in bankruptcy, credit card users won't lose their money, but if it does go under, availability for alternate routings and the cost of those tickets may become a real problem.
Dec 24, 2018, 5:12 am
#29
Join Date: Mar 2011
Location: Canada
Programs: Star Alliance G*, Marriott Bonvoy Titanium,
Posts: 3,585
more questions on WOW cuts
Am surprised by now we are not hearing about alternative flights being offered on Icelandair?