Avianta Capital and two former WOW air managers to establish new airline, WAB air

    Avianta Capital, along with two former WOW air managers, are planning to establish a new airline named WAB air   (frettabladid.is/One Mile At A Time/Simple Flying/ruv.is/Visir, 10-Jul-2019). The proposed carrier is expected to launch in 2019 with approximately six aircraft and will reportedly commence low cost services to destinations in the US and Europe. Avianta Capital requested a loan of EUR31 million and will contribute ISK5.1 billion (EUR35.9 million) of its own money. It will aim to employ 500 staff over the next 12 months and will hold a 75% stake in the airline. The remaining 25% will be controlled by Neo, partly owned by two of WOW air’s former management team members, Arnars Más Magnússon and Sveinn Inga Steinþórsson. Former WOW air CEO Skúli Mogensen confirmed he has no involvement with the venture.