Business Irish

Monday 17 December 2018

Avolon moves four Wow Air aircraft

Irish-founded Avolon is the world's third-largest aircraft leasing firm. Stock image
Irish-founded Avolon is the world's third-largest aircraft leasing firm. Stock image
John Mulligan

John Mulligan

Dublin-based aircraft leasing giant Avolon has repositioned four aircraft leased to Icelandic low-cost carrier Wow Air, after a planned acquisition by Icelandair of its smaller rival was terminated. It's likely that Avolon has concerns about Wow's survival prospects.

Two A330s and two A320s were repositioned by Avolon, with two of the jets having been moved to Shannon and two to France. However, the jets are still leased to Wow. Icelandair and Wow signed a purchase agreement on November 5, but faced an ultimately unachievable approval schedule.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business