newstodate.aero
Mar 26, 2019 (newstodate): The Icelandic LCC WOW Air is fighting a last-ditch battle to avoid bankruptcy.
The airline's plights have been further aggravated by the arrest of two of its aircraft at Montreal and Santa Clara in Cuba, respectively, after WOW Air has already redelivered several of its aircraft to lessors.
The aircraft now arrested were grounded on the request of the Canadian aircraft leasing company.
Also WOW Air has now met with creditors in an effort to persuade them to swap outstanding debts with shares in the carrier that might then gain further time to restructuring of the airline.
The airline's plights have been further aggravated by the arrest of two of its aircraft at Montreal and Santa Clara in Cuba, respectively, after WOW Air has already redelivered several of its aircraft to lessors.
The aircraft now arrested were grounded on the request of the Canadian aircraft leasing company.
Also WOW Air has now met with creditors in an effort to persuade them to swap outstanding debts with shares in the carrier that might then gain further time to restructuring of the airline.