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Indigo Partners and WOW air Discussions Progressing

Press Trust of India  |  REYKJAVIK 

/ -- Partners ("Indigo") and air ("WOW") initiated diligence meetings this week in as the initial steps to a potential investment after the signing of a term sheet last week. A team from Partners spent the last two days with air management to review the business and opportunities of the going forward.

The overall process is progressing and both parties are working to finalize the investment. Issues remaining include WOW's planned network development, vendor contracts including aircraft leases and certain waivers from WOW's bondholders.

"These have been two very good days with detailed discussions around WOW's current business and how we would envision it going forward. air has a dedicated team and a strong brand that has significant potential," said Bill Franke, of

"We are very pleased with the visit from Indigo Partners and it's clear that we can learn a lot from and his team on how to build a successful low cost I don't think we can find a better and more experienced partner to bring WOW air to the next level," said Skuli Mogensen, and founder of WOW air.

WOW is advised in this transaction by Plane View Partners LLC, the U.S. advisory firm.

About Indigo Partners Indigo Partners is a private equity firm established by W. A. Franke in 2003 to pursue acquisitions and strategic investments in the and related industries. The firm was a lead investor in based in and based in Lauderdale, Florida, and maintains lead investments in Wizz Air Holdings, Plc, a ULCC with multiple bases in Central and Eastern Europe; Frontier Airlines, a ULCC based in Denver; Volaris Airlines, a ULCC based in Mexico City; and JetSMART, a ULCC based in Indigo is headquartered in Phoenix,

About WOW air WOW air is a happy low-fare, long-haul based in with a young, low emission fleet. The airline was founded in November 2011 and currently serves 25 destinations across and WOW air is committed to providing the cheapest flights to and from and across the Atlantic while providing a memorable service all the way. For more information, please visit https://wowair.us/about-us.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 10:35 IST
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