Indigo Partners, a private equity firm focused on the air transportation industry has announced it has initiated diligence meetings with Iceland´s WOW air as the initial steps to a potential Indigo investment, the company said.
Following the signing of a term sheet last week, a team from Indigo Partners spent two days with WOW air management to review the business and opportunities of the airline 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.
WOW is advised in this transaction by Plane View Partners LLC, the US air transportation advisory firm.
Indigo Partners pursues acquisitions and strategic investments in the air transportation and related industries.
WOW air is a low-fare, long-haul airline that currently serves 25 destinations across Europe and North America.