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Icelandair to buy WOW Air in all-share deal

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Icelandair to buy WOW Air in all-share deal
Bikes by a bike rental service of Icelandic airline WOW air are seen in Reykjavik, Iceland, August 5, 2017. REUTERS/Michaela Rehle   -   Copyright  Michaela Rehle(Reuters)
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(Reuters) – Icelandair Group <ICEAIR.IC> said on Monday it had agreed to acquire WOW air for about $18 million (14 million pounds) in an all-share deal.

Icelandair said both companies would continue to operate under separate brands and would have a combined 3.8 percent share of the transatlantic market.

(Reporting by Tommy Lund; Editing by Jon Boyle)

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