Icelandair announced this evening in its press release, discussions with WOW Air have been ended with the result that a takeover of the troubled WOW Air was canceled.

Yesterday, it was also announced that WOW Air has committed more than $ 100 million in debt for the past fiscal year. Alone at Isavia – the Icelandic airport operator – are now accumulated over $ 50 million in debt due to unpaid airport bills.

In addition, WOW Air is said to have accumulated large debts on unpaid airport charges at several foreign airports.

As the Icelandic press recently announced, WOW Air has already paid wages in the last month with only a few days’ delay – and the airline has not been paying any contributions to the Icelandic pension fund for employees since autumn.