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CEO Skuli Mogensen pictured in better times (photo: WOW air)

Wow seeks partner for big expansion

The Icelandic airline will launch routes to Asia and is also considering direct Europe-US flights.

Icelandic carrier Wow air says it may try to raise fresh funding by offering a shareholding in the airline this year, adding that some major airline groups have already shown an interest, Bloomberg reports.

Inspired and encouraged by interest in Norwegian, which alleges it has also had a number of approaches since IAG bought its shareholding, Wow’s chief executive Skuli Mogensen says that major carriers are highly interested in the concept of low-cost long-haul.

However, Wow air, which offers low-cost transatlantic flights via its hub in Iceland, has so far declined to name possible suitors.

Wow wants to fund expansion that include routes to Asia and direct Europe-US flights from Dublin or London, Mogensen tells Bloomberg.

“The interest in Norwegian creates more awareness and really validates what we are trying to do, that low-cost, long-haul is here to say,” he said.

“People are just waiting to see what we decide. This is an industry in which everyone knows everyone and I think we could call on a few select people.”

Asia via the Arctic
Wow says it will reveal its first Asian destination later this month, connecting passengers to the North American eastern seaboard via the shortest Arctic route.

It will be operated using Wow’s new Airbus SE A330neo planes, four of which will be delivered this year. More Asian destinations will follow, Mogensen says.

Wow is also looking into setting up a “counter-seasonal” hub in the southern hemisphere, where it would base aircraft during the northern winter.

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