WOW CEO Already Eyeing a Return to the Skies

Apr 6, 2019

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Skúli Mogensen, the founder and CEO of now bankrupt WOW air, is laying the groundwork to get airborne again. Fréttablaðið is reporting that Mogensen is seeking investors to raise $40 million to purchase the assets of the failed airline and start flying again using the same low-cost model.

Under the proposed plan, Mogensen and other former WOW air employees would own 51% of the new venture and hope to raise the $40 million investment needed by selling off the other 49% of the new company.

The new airline would operate four A321-200neo aircraft along with a single A320-200neo. Those aircraft would be used to operate routes to 13 destinations, including to the US from Reykjavik’s Keflavík Airport (KEF).

Mogensen says the new airline could be up and running by June should they find investors. With the collapse of WOW air and the resulting stranding of passengers, it’s not clear if the traveling public will be ready to put their trust, not to mention travel dollars, into Mogensen’s new venture.

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Featured photo by WOW air

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