Wow Air cancels flights amid breakdown in takeover talks

Budget airline Wow Air has cancelled flights this morning as its fate hangs in the balance.

A flight from Gatwick to the Icelandic capital Reykjavik, where the airline is based, has been cancelled, the Independent reported this morning.

Wow Air is struggling to stay afloat after an acquisition bid by US private equity firm Indigo Partners fell through.

A Wow Air spokesperson said: “Due to the delay of an incoming flight from North America, we have combined our two London departures today.”

The airline was thought to be in takeover talks with rival Icelandic budget airline Icelandair. However, yesterday Icelandair posted a statement saying: "Icelandair Group has decided that its possible involvement in Wow Air's operations, as announced on 20 March 2019, will not materialize. Therefore, all discussions between the parties have ended."