Icelandic ultra-LCC WOW Air has won approval from its bondholders to convert debt to equity following the recent collapse of talks with two potential investors. In a brief notice to investors March 26, the carrier said: “Bondholders have formally approved to convert their bonds into equity and formal discussions with investors have commenced to fund the company. This is an important milestone in financially restructuring the company and secur[ing] the long-term sustainability of ...

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