WOW air hope to secure capital for the company
Morgunblaðið sources report that the company is hoping to secure at least 50 thousand USD in consultation with financial firms by issuing bonds. WOW Air owner’s equity amounted to USD 14 million at the end of June, compared with USD 40 million at the end of last year. The financing phase is expected to be completed by the end of August. The issuing of bonds will be led by the Norwegian investment bank Pareto Securities. According to Morgunblaðið sources the government is following WOW's state of affairs closely. Speaking to Morgunblaðið, analysts say that this development can be traced to the market's fear that tourist numbers to Iceland will fall in coming months.
- Iceland Monitor -