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Air Lease : WOW AIR ACQUIRES FIRST AIRBUS A320NEO; New aircraft adds to all Airbus fleet

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04/27/2017 | 04:29pm CEST

WOW air has taken delivery of the first A320neo aircraft, via an agreement with Air Lease Corporation (ALC). The new aircraft is the Icelandic airline's thirteenth in a rapidly expanding, all-Airbus fleet and will be deployed on WOW air's routes to Europe and North America as of 3rd of May.

In a departure from the airline's tradition of naming its aircraft after family members (including MOM, DAD, BRO and SIS) the newest member of the fleet will be christened TF-NEO in a nod to it being the first of its kind in the fleet.

WOW air selected the A320neo for its low operating costs, excellent fuel efficiency and innovative technological offerings including next generation CFM engines and Sharklet wing tip devices. In combination, these offer operating airlines fuel savings of more than 15% with projections of over 20% by 2020 as further cabin innovations are rolled out.

"We're proud to offer a young and technologically advanced fleet that allows us to provide our passengers with a comfortable journey at best possible prices," said Skúli Mogensen, WOW air Founder and CEO. "It is a welcome addition to our family of aircraft that now operate on 29 international routes across Europe and North America."

"We are happy that WOW air has taken delivery of its first A320neo which will fit seamlessly in WOW air's all Airbus fleet. The aircraft offers unbeatable operating costs, latest technologies and significant environmental benefits. WOW air's passengers will continue to enjoy the unrivalled comfort that only Airbus aircraft offer," said Fabrice Brégier, Airbus COO and President Commercial Aircraft.

WOW air will operate the A320neo with a single class cabin with 180 seats. For more information, visit www.wowair.co.uk.

For further press information or to request an interview with WOW air CEO Skuli Mogensen, contact:

Stuart Fyfe, Rooster PR

T: +44 (0) 20 3440 8930

E: [email protected]

About WOW air

WOW air is Iceland's ultra-low-cost transatlantic airline offering cheap fares, a modern fleet with the lowest emissions and the biggest smile; this is the WOW air promise to its valuable customers.

WOW air flies twice-daily from London Gatwick to Reykjavik. As of spring 2017, the airline will serve 32 destinations across Europe, North America and Canada, including London, Edinburgh, Bristol, Washington DC, Boston, San Francisco, Los Angeles, Montreal, Toronto and New York.

Created in November 2011 by Icelandic entrepreneur Skúli Mogensen, the purple airline flies with Airbus A320 aircrafts and Airbus A321/A330 models. WOW air boasts one of the world's youngest fleets, with an average aircraft age of just 2.5 years.

WOW air was ranked as the 7th best low-cost airline in Europe at the 2013, 2014 and 2015 Skytrax World Airline Awards and was the youngest airline in the top ten.

For more information: www.wowair.co.uk


(c) 2017 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials ($)
Sales 2017 1 555 M
EBIT 2017 853 M
Net income 2017 410 M
Debt 2017 9 888 M
Yield 2017 0,59%
P/E ratio 2017 10,27
P/E ratio 2018 8,78
Capi. / Sales 2017 8,87x
Capi. / Sales 2018 2,17x
Capitalization 3 900 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 47,2 $
Spread / Average Target 25%
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John L. Plueger President, Chief Executive Officer & Director
Steven F. Udvar-Házy Executive Chairman
Gregory B. Willis Chief Financial Officer & Executive Vice President
Matthew J. Hart Independent Director
Ronald D. Sugar Independent Director
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