WOW air Creditors Agree to Convert Debt
WOW air’s creditors agreed yesterday to convert the company’s debt into shares for 49% of the company, RÚV reports. WOW still needs to find a buyer for the other 51% to avoid bankruptcyand ensure the ISK 5 billion ($41m/€37m) still lacking for its continued operation.
Svanhvít Friðriksdóttir, WOW’s public relations officer, stated that the airline’s flights would operate on schedule today. As of the time of writing, the airline’s flights to and from Keflavík are on schedule, barring two delays.