DALLAS — Today, in 2012, Icelandic low-cost carrier WOW Air (WW) acquired rival Reykjavk-based low-fare airline Iceland Express (HC).
WOW Air stressed that this was a takeover, not a merger, with WW purchasing HC’s route network, branding, and customer base. It also allowed the airline to gain access to “all the knowledge and expertise accumulated by the company during its years of operation.”
By acquiring HC, WOW was able to rapidly expand its network. The airline immediately announced that frequencies would be increased on existing routes to London Gatwick (LGW) and Copenhagen (CPH). New routes to Berlin (SXF), Kaunas (KUN), Salzburg (SZG), and Warsaw (WAW) were also introduced.
WOW Air TF-GAY Airbus A330-343. Photo: Alberto Cucini/AirwaysA Tale of Two Airlines
Iceland Express commenced operations on February 27, 2003. The carrier expanded steadily and flew to numerous destinations across Europe and North America. British carrier Astraeus (5W) operated flights using Boeing 737-300/500 and 700s and Boeing 757-200s.
Icelandic businessman Skuli Mogensen formed WW in November 2011. Speaking at the time of the takeover, Mogensen said, “We are extremely happy with the acquisition…Iceland Express has been a pioneering low-fares airline in Iceland and was the country’s most punctual airline this summer.”
Mogensen added, “This acquisition will significantly boost Wow Air and ensure that we can continue to offer the lowest prices and excellent service. We will immediately be able to greatly increase our frequency to and from London and Copenhagen and also provide more capacity and new destinations next summer.”
Sadly, rapid expansion led to growing financial difficulties for WW. The carrier announced it was to cease trading on March 28, 2019.
Featured image: An Iceland Express Boeing 737-700 operated by Astraeus.
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David H. Stringer, the History Editor for AIRWAYS Magazine, has chronicled the story of the commercial aviation industry with his airline history articles that have appeared in AIRWAYS over two decades. Here, for the first time, is a compilation of those articles.
Subjects A through C are presented in this first of three volumes. Covering topics such as the airlines of Alaska at the time of statehood and Canada’s regional airlines of the 1960s, the individual histories of such carriers as Allegheny, American, Braniff, and Continental are also included in Volume One. Get your copy today!