Indigo Partners and WOW air Reach Preliminary Agreement
Indigo Partners LLC (“Indigo”), and WOW air (“WOW”), the Icelandic airline based in Reykjavik, have agreed in principle for Indigo to invest in WOW. Terms of the transaction were not disclosed. Following successful completion of due diligence, the parties would work to close as soon as practicable. WOW’s CEO and primary shareholder, Skuli Mogensen, would remain a principal investor in WOW upon completion of the transaction. WOW air is an ultra-low-cost carrier currently serving 25 destinations across Europe and North America. “The demand for low-cost air service continues to expand