Wow seeks agreement with bondholders to restructure

Icelandic budget carrier Wow Air is holding talks with creditors and bondholders with a view to agreeing a voluntary restructuring of the troubled company. Wow Air’s negotiations with Indigo Partners, and renewed talks with Icelandair Group, have failed to result in an investment or co-operation agreement.As a result Wow’s management is exploring other financing mechanisms for the budget airline.It states that a majority of its bondholders, as well as other creditors, are participating in “advance” discussions on a possible voluntary restructuring.