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WOW air Refinances
After Icelandair walked away from WOW air for a second time, WOW air has confirmed that its bondholders have agreed for a debt-for-equity swap, effectively exchanging the debts owed to them for shares in the airline.
This provides a temporary reprieve for WOW air. However, the airline is still looking for a new investor to provide funding. There is also the question of money owed to other creditors.
Summer Schedule Changes
A quick reminder the summer schedule starts this coming Sunday 31 March, which also coincides with the change from GMT to BST in the UK.
Here are some of the major transatlantic schedule changes:
American Airlines launches its new year-round service from London Heathrow to Phoenix from 31 March.
BA launches a new summer seasonal service from London Heathrow to Charleston on Thursday 4 April 2019 and a new year round service to Pittsburgh on Tuesday 2 April 2019.
Norwegian transfers its services from London Gatwick to Fort Lauderdale and Oakland to Miami and San Francisco International from 31 March.
Virgin Atlantic transfers its service to Las Vegas from Gatwick to Heathrow from 31 March. Virgin will also add an additional frequency to Boston, with a new day flight for the return from Boston to Heathrow.
Virgin Trains USA Plans Orlando Link
Brightline, soon to be rebranded Virgin Trains USA, has set out its plans to expand its existing rail link from Miami to West Palm Beach to Orlando.
The extension, which will be financed by a bond issue, will be constructed on a mixture of existing freight lines and new tracks. Virgin Trains USA also hopes to serve a station at the South Terminal of Orlando International airport and enter into interline agreements with domestic and international airlines. The new link is expected to take three years to construct and the journey time from Orlando to Miami is expected to be 3 hours and 15 minutes.
Virgin Trains USA also plans an extension from Orlando to Tampa, subject to acquiring the necessary land.
Also of note this week:
Travelling across the US by train. (New York Times)
Uber drivers in Los Angeles hold one day strike in protest at falling wages. (Curbed)
