ALERT Icelandair to buy low-cost rival WOW Air

Icelandair Group has entered into a share purchase agreement to purchase all shares in the airline WOW air. Beleaguered budget airline WOW Air has been completely bought out by Icelandair Group, Viðskiptablaðið reports. The board of Icelandair Group bought every share in WOW Air, in full conjunction and cooperation with the Icelandic Competition Authority. The acquisition is…