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Discussione: Icelandair annuncia l'acquisizione di WOW Air

  1. #1
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    Predefinito http://www.aviazionecivile.org/vb/showthread.php/141215-Icelandair-annuncia-l-acquisi

    Icelandair si compra Wow Air e continueranno (al momento) ad operare come brand separati e distinti.

    Press release di Icelandair Group:
    Icelandair Group acquires Wow air

    Icelandair Group has entered into a share purchase agreement to purchase all shares in the airline WOW air. The acquisition is subject to, approval by Icelandair Group‘s shareholders, the approval of the Icelandic competition authorities and a due diligence. As consideration for the shares, the shareholders of WOW air will, subject to conditions, receive a total of 272.341.867 shares or the equivalent of 5.4% of Icelandair Group‘s shares after the transaction. Thereof, 178.066.520 shares or 3.5% of the shares as consideration for the sold shares. The consideration can increase to 4.8% or decrease to 0.0% in accordance with certain conditions set forth in the share purchase agreement. 94.275.347 shares or 1.8% of the shares will be paid due to conversion of a subordinated loan into equity. All of sellers’ shares in Icelandair Group will be subject to restrictive covenants for 6 months and half of the shares will be subject to restrictive covenants to further six months.
    The companies will continue to operate under separate brands. Their combined market share on the transatlantic market is around 3.8%. The acquisition creates opportunity for both companies to become even better prepared to provide international carriers with strong competition in the international airline market.

    Bogi Nils Bogason, Interim President & CEO, Icelandair Group: „WOW air has in recent years built a strong brand and enjoyed great success in the company‘s markets to and from Iceland and across the Atlantic.. There are many opportunities for synergies with the two companies but they will continue to operate under their own brands and operating approvals. The tourism industry is one of the cornerstones of the Icelandic economy and it is important that flights to and from Iceland will remain frequent.“

    Skúli Mogensen,
    CEO and founder of WOW air: „I am very proud of the success and development that we at WOW Air have enjoyed in the past few years and I am thankful for the response we have received since our very first flight. We have created a strong team that has reached remarkable success and has been a pioneer in low cost flights across the North-Atlantic. A new chapter now starts where WOW air gets an opportunity to grow and prosper with a strong backer like Icelandair Group that will strengthen the foundations of the company and strengthen its international competitiveness even further.“

    In the upcoming days, Icelandair Group‘s will convene a shareholders‘ meeting where Icelandair Group‘s shareholders will cast their vote on the acquisition. A shareholders’ meeting shall be convened with at least three weeks‘ notice.
    For further information please contact:
    Bogi Nils Bogason, Interim President and CEO
    bogi@icelandairgroup.is


  2. #2
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    Predefinito Re: Wow Air ci prova : Londra - US a partire da 99£ OW

    Sono curioso di vedere se il risultato finale si avvicina di piu' a WOW Air o Icelandair. In altre parole, che fine fara' la business class di Icelandair (al momento presente su tutt i voli)

  3. #3
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    Predefinito Re: Wow Air ci prova : Londra - US a partire da 99£ OW

    Icelandair-Wow merger follows turbulent months for both

    Icelandair Group’s agreement to take over rival Wow Air has emerged during a period of financial turbulence for both carriers.
    The combination of the two airlines would bring together two operators which have notably been engaged in a head-to-head battle on transatlantic routes in recent months.
    But the tie-up would also place all-Airbus operator Wow Air under the umbrella of a group whose main operator, Icelandair, is an all-Boeing carrier.
    Both have been undergoing fleet modernisation with the respective airframers’ new re-engined types, the Airbus A320neo and A330neo, and the Boeing 737 Max.
    Wow Air has been exploring a strengthening of its balance sheet in order to expand, and had envisioned a public offering to raise funds.
    The airline last year made an operating loss last year, partly attributable to higher fuel costs.
    Icelandair remained profitable in 2017 but its performance was substantially weaker than the previous year.
    The carrier has been trying to rectify a strategic miscalculation centred on transatlantic capacity which, it says, has contributed to poor financial results this year and forced it to issue profit warnings, as well as admit to breaches of covenants with bondholders.
    Icelandair and Wow Air have each been competing for transatlantic traffic flying via Reykjavik, to the point where the two operators have been opening links to the same North American destinations, including New York JFK, Dallas and Cleveland.
    The two also compete on routes to other cities including Boston, Chicago and San Francisco, and Wow has newly disclosed plans to operate to Vancouver, another Icelandair destination.
    Wow Air has lately been retreating from its aggressive network growth, however, recently axing newly-established routes to St Louis, Cleveland and Cincinnati.
    The budget airline emerged in mid-2012 and has built a fleet of around 20 Airbus jets.
    Becoming part of Icelandair Group will “strengthen the foundations of the company and strengthen its international competitiveness even further”, says Wow Air founder Skuli Mogensen.
    Icelandair Group says the acquisition of Wow Air depends on due diligence, and needs the approval of shareholders as well as the Icelandic competition regulator. FG

  4. #4
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    Predefinito Re: Wow Air ci prova : Londra - US a partire da 99£ OW

    nel frattempo un collega indiano ha prenotato un biglietto per Dicembre dagli Stati Uniti verso l'India per visitare la sua famiglia a un prezzo molto conveniente considerate le date (intorno agli $800 A/R) con Wow Air. Ora Wow Air ha cancellato il volo e gli hanno mandato un rimborso del biglietto senza opzioni per riprotezione, il che significa che lui si e' dovuto comprare un biglietto con una altra compagnia con costi nel frattempo che sono saliti intorno ai $1500. Ovviamente, sentimento di sfiducia in lui nel fidarsi di queste compagnie emergenti che promettono low-cost a lungo raggio, perche' rischi di rimanere fregato in caso di problemi.

  5. #5
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    Predefinito Re: Wow Air ci prova : Londra - US a partire da 99£ OW

    I due business model mi sembrano piuttosto differenti, e non vedo perchè non potrebbero essere mantenuti entrambi sfruttando le economie di scala nelle aree comuni. Sembra un trend consolidato per i gruppi aeronautici quello di avere un brand "mainline" con offerta più tradizionale ed uno "value" o "leisure" con un modello vicino a quello dei LCC. WOW al momento è un ULCC pressochè puro - oltre al biglietto si paga tutto, e pure molto caro. Aumentando un po' la distanza tra i due modelli ed evitando di dissanguarsi a vicenda volando sulle stesse rotte, potrebbero anche funzionare entrambi i brand.

  6. #6

    Predefinito Icelandair annuncia l'acquisizione di WOW Air

    Icelandair is buying rival Wow Air in a major consolidation of the Icelandic aviation market.

    Icelandair announced it will purchase the other Icelandic airline, low-cost carrier WOW air, in an all-share deal worth $25m.



    The two airlines will continue to operate as separate brands where they currently have 3.8 per cent of the total transatlantic market.

    The purchase of loss-making WOW air comes during an accelerating period of consolidation in European aviation, driven by failures and takeovers.

    WOW air lost $27.5m before tax in 2017 and expects to lose $6m this year.

    Icelandair’s share price has slumped by one-third over the past year, though it rose 50 per cent on news of the deal.

    Speaking about the merger, Wow Air’s CEO and founder Skuli Mogensen said: “I am very proud of the success and development that we at WOW Air have enjoyed in the past few years. We have created a strong team that ..has been a pioneer in low-cost flights across the North Atlantic.

    A new chapter now starts where WOW air gets an opportunity to grow and prosper with a strong backer like Icelandair Group that will strengthen the foundations of the company and its international competitiveness even further.”

    Analysts expect schedules will be restructured to reduce direct competition, and fares may rise.


    https://www.secretflying.com/posts/i...-buys-wow-air/

  7. #7
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    Predefinito Re: Icelandair annuncia l'acquisizione di WOW Air

    Sono curioso di sapere cosa dirà l'antitrust visto che le due compagnie insieme avranno praticamente il monopolio sulle rotte da e per l'Islanda

  8. #8

    Predefinito Re: Icelandair annuncia l'acquisizione di WOW Air

    Quote Originariamente inviato da Cesare.Caldi Visualizza il messaggio
    Sono curioso di sapere cosa dirà l'antitrust visto che le due compagnie insieme avranno praticamente il monopolio sulle rotte da e per l'Islanda
    Me lo chiedo pure io.

  9. #9

    Predefinito Re: Icelandair annuncia l'acquisizione di WOW Air

    Com’era la situazione prima della nascita di wow? Meglio monopolio (nella proprietà) o Wow fallita, dipendenti a spasso e clienti a terra?

  10. #10

    Predefinito Re: Icelandair annuncia l'acquisizione di WOW Air

    Quote Originariamente inviato da Cesare.Caldi Visualizza il messaggio
    Sono curioso di sapere cosa dirà l'antitrust visto che le due compagnie insieme avranno praticamente il monopolio sulle rotte da e per l'Islanda
    Quale antitrust? Di che giurisdizione parlate?

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