The name of this new airline is tentatively being called WAB Air, and is aiming to be operational this autumn, starting with six airplanes flying to 14 destinations in Europe and the United States. The majority stakeholders will be Avianta Capital, an Irish company, which is sinking 5 billion ISK into WAB Air for a 75% stake in the company. Additionally, at least two Icelandic banks—Arion and Landsbanki—have been in discussions with the future airline to lend Avianta Capital about 3.9 billion ISK, for a duration of one year. The remaining 25% stake will be owned by an Icelandic company, Neo. The investors expect some 1 million passengers to fly with WAB Air, which will hire 500 employees over the next 12 months, generating about 20 billion ISK in revenue.
- The Reykjavík Grapevine -