Icelandic carrier Wow Air has announced it has agreed to sell four Airbus A321s to Air Canada to improve its liquidity by USD 12m, the company said.
Wow had earlier in December disclosed it was working on a transaction to sell four A321s, part of wider restructuring and fleet cuts it announced earlier this month. Under these plans it will reduce its fleet from 20 to 11.
The carrier said its board of directors has approved the transaction to sell four A321s, identifying the Canadian carrier as taking the aircraft. Wow says it has had the aircraft on finance lease since 2014.
Investment firm Indigo Partners has been carrying out due diligence ahead of a potential investment in the carrier, having emerged as a possible investor after planned acquisition by Icelandair broke down in late November.
Flight Fleets Analyzer shows Air Canada operates 15 A321s as part of its narrowbody fleet.