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WOW Air in Trouble--UPDATE

Wow Air is back in talks with Icelandair after Indigo Partners decided not to invest in the Iceland based airline.

https://www.reuters.com/article/wowair-ma-icelandair-group/icelandic-airlines-wow-air-and-icelandair-restart-talks-idUSL8N2190YC

Update (3/25/19): Icelandair has broken off talks with WOW and said there will be no deal between the two airlines.

https://www.businesstraveller.com/business-travel/2019/03/25/wow-air-uncertainty-continues-as-icelandair-talks-dropped/

Posted by
5652 posts

Trip cancellation insurance?

From an old AIG Travel Guard policy:

TRIP CANCELLATION/INTERRUPTION DUE TO FINANCIAL DEFAULT

Trip Cancellation/Interruption due to Financial Default of an airline,
cruise line, or tour operator provided the Financial Default occurs
more than 14 days following an Insured's effective date for the Trip
Cancellation or Trip Interruption Benefits. There is no coverage for
the Financial Default of any person, organization, agency, or firm
from whom the Insured purchased travel arrangements supplied by
others. This coverage applies only if insurance was purchased within
15 days of Initial Trip Payment.

https://www.insuremytrip.com/travel-insurance-plans-coverages/financial-default-coverage/

Posted by
5011 posts

Apparently one of WOW Air's planes was repossessed in Montreal last night. Plane was leased from an Irish company, who hasn't been paid, and they seem to want their two A321s back.

Circling the drain, it appears to be.