A new company with familiar faces—but not the most familiar one—is planning to launch a new version of defunct Icelandic ultra low-cost carrier Wow Air, which collapsed last march in a cash crisis.
The new management, which includes several former Wow execs, but not founder and frontman Skuli Magnusson. The company hopes to be operating by fall of 2020, flying a network connecting North America and Europe through Iceland’s Keflavik Airport just as Wow did. They haven’t chosen a name yet; so far they’re calling it WAB, for We Are Back.
Financing for the new venture will come primarily from an Irish investment firm, Avianta Capital, which is owned by Aislinn Whittley-Ryan whose family owns a significant share of Ryanair.
