Financially-pressed Icelandic ULCC WOW Air has won approval from its bondholders to convert debt to equity. In a brief notice to investors Mar. 26, the carrier said “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 secur[ing] the long-term sustainability of WOW Air.” The note did not indicate the amount of ...

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