About three months after Icelandic ultra-LCC WOW Air ceased operations, two former managers of the airline and an investment fund plan to establish a new LCC in the country, according to news reports. Under the working name WAB—for “We Are Back”—the new airline will be established on the foundations of defunct WOW by Arnar Már Magnússon and Sveinn Ingi Steinþórsson, as well as Irish investment fund Avianta Capital, according to reports ...

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