Icelandair to Buy Rival Wow Air
Photo Credit: A Wow Air aircraft. Icelandair is buying its rival. Flickr / BriYYZ
Skift Take
This looks like a marriage of convenience for the carriers. Both are struggling, as is the wider Icelandic tourism industry. We'll have to wait and see whether one is better than two.
Icelandair Group is buying rival Wow Air in a major consolidation of the Icelandic aviation market.
The two airlines will continue to operate as separate brands and neither side has so far revealed a price or terms of the deal, which was announced Monday.
Together the pair will have around 3.8 percent of the transatlantic aviation market.
The deal is still subject to Icelandair shareholder approval and due diligence. It must also get sign off from Icelandic competi
