{"id":3210,"date":"2018-12-13T08:28:22","date_gmt":"2018-12-13T14:28:22","guid":{"rendered":"http:\/\/planesintheair.com\/?p=3210"},"modified":"2018-12-13T08:28:28","modified_gmt":"2018-12-13T14:28:28","slug":"icelands-wow-air-to-reduce-fleet-cut-jobs","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=3210","title":{"rendered":"Iceland’s WOW Air To Reduce Fleet, Cut Jobs"},"content":{"rendered":"\n

COPENHAGEN (Reuters) – Icelandic low-cost carrier WOW air, which is in talks with U.S. private equity fund Indigo Partners about a potential investment, said on Thursday it would reduce its fleet to 11 aircraft from twenty and cut 111 jobs.<\/p>\n\n\n\n

Indigo is managed by Bill Franke, the veteran U.S. low-cost airline investor, and has also made investments in U.S.-based Frontier Airlines, Mexico’s Volaris, Chilean carrier JetSmart and Hungary’s Wizz (WIZZ.L).<\/p>\n\n\n\n

“After a challenging year, WOW air is now restructuring and simplifying its operations to return to its roots as a profitable ultra-low cost airline while discussions with Indigo Partners progress,” WOW Air said in a statement.<\/p>\n\n\n\n

It said it was in negotiations with its lessors to return some of its aircraft including all Airbus A330s. Four Airbus A321s are being sold in a transaction that will improve its liquidity by more than $10 million, it said.<\/p>\n\n\n\n

WOW Air will have around 1,000 employees after the job cuts, it said.<\/p>\n\n\n\n

Indigo and WOW Air have not disclosed any details about their talks, but WOW Air has said that CEO and primary shareholder, Skuli Mogensen will remain a principal investor in WOW after the deal.<\/p>\n\n\n\n

Icelandair (ICEAIR.IC) last month scrapped its plan to buy the privately-held airline.<\/p>\n\n\n\n

(Reporting by Teis Jensen; Editing by Kirsten Donovan)<\/p>\n\n\n\n

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Image from\u00a0http:\/\/wowair.us<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

COPENHAGEN (Reuters) – Icelandic low-cost carrier WOW air, which is in talks with U.S. private equity fund Indigo Partners about a potential investment, said on Thursday it would reduce its fleet to 11 aircraft from twenty and cut 111 jobs. Indigo is managed by Bill Franke, the veteran U.S. low-cost airline investor, and has also made investments in U.S.-based Frontier Airlines, Mexico’s Volaris, Chilean carrier JetSmart and Hungary’s Wizz.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[238,739,539,47,118,2555,1925,2491,2796,1924,2797,2553,717,2052,2558,134,2264,710,2556,1923,883,2799,412,1090,1022,1288,2798,2557,722,1531],"class_list":["post-3210","post","type-post","status-publish","format-standard","hentry","category-aviation-news","tag-a321","tag-a330","tag-air","tag-airbus","tag-airlines","tag-bill-franke","tag-carrier","tag-chile","tag-copenhagen","tag-cost","tag-denmark","tag-equity","tag-frontier","tag-fund","tag-hungary","tag-icelandair","tag-icelandic","tag-indigo","tag-jetsmart","tag-low","tag-mexico","tag-mogensen","tag-news","tag-partners","tag-private","tag-reuters","tag-skuli","tag-volaris","tag-wizz","tag-wow"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3210"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3210\/revisions"}],"predecessor-version":[{"id":3212,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3210\/revisions\/3212"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}