With Indigo Partners canceling its plans to invest in WOW, the Icelandic low-cost airline turns back to Icelandair for an 11th-hour rescue
Share to linkedin
"Although no agreement has been reached, the parties continue to work in good faith towards closing an investment as soon as practicable," the airline stated. The loan was intended to keep the airline operating during prolonged negotiations which included further due-diligence, adjustments to bond debts, the cancellation of a subordinated stockholder loan, and a lower valuation of the company.
On the same day, the airline also published a statement confirming that it was"in breach of information disclosure requirements and financial covenants" as required by regulations governing the bonds issued to the company in a previous rescue effort.The Company will initiate discussions with bondholders and submit a new written procedure in connection with Indigo Partners and WOW air’s continuing negotiations," the company stated.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Oil majors rush to dominate U.S. shale as independents scale backIn New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive s...
Baca lebih lajut »
AOC's approval rating falls after Amazon deal collapse, while Trump hammers Dems over 'socialism'It is unclear how much of the drop in popularity can be attributed to the representative's opposition to Amazon's plans to build an office in Queens.
Baca lebih lajut »
Venezuela has its electricity back, for now, but it’s still on the verge of collapseThe most severe economic crisis in recorded Latin American history is getting worse.
Baca lebih lajut »
Theresa May pulls third Brexit meaningful vote after DUP refuses to back dealTheresa May will not hold a third vote on her Brexit plan on Tuesday, Downing Street has confirmed.
Baca lebih lajut »
May urges MPs to back her Brexit deal nowPrime Minister Theresa May said on Wednesday she deeply regretted her decision t...
Baca lebih lajut »