New airline based on the foundation of WOW air in the making

Two former WOW air managers are starting a new airline and according to Frettabladid it is connected to an Irish fund (Avianta Capital) related to the Ryanair family. With backing from Avianta Capital, the founders are now looking towards Icelandic banks to bridge the rest of the funding needed to get this new airline off the ground.

The group is being consulted by Irelandia Aviation, a company that has invested in Ryanair, Tiger Airways, Allegiant Air, and Viva Aeurobus and is managed by Declan Ryan, former CEO of Ryanair

You might be thinking what WAB stands for? As far as Icenews knows it stands for “We Are Back” and their plan is to work with a fleet of six airplanes and start flying this fall.

The CEO of the new airline will be Sveinn Ingi Steinþórsson and he will have support from Arnar Már Magnússon as the COO and fleet manager, both bring strong experience from their past positions at WOW Air, Air Atlanta, and Ryanair.