The fate of Icelandic ultra-LCC WOW Air seems to increasingly to lie with its creditors, after talks with Icelandair Group collapsed. The two Icelandic carriers resumed talks March 21 following an almost four-month hiatus after negotiations regarding Icelandair’s acquisition of WOW Air ended without agreement. In the intervening period, U.S.-based private equity fund Indigo Partners stepped in, looking to take an initial 49% stake in WOW Air. However, Indigo, which has major stakes ...

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