1. ITV Report

Icelandic take over

WOW air has taken over Iceland Express Photo: WOW air

Icelandic low-cost airline WOW air has announced it has acquired its rival Iceland Express.

Both airlines have run services out of Stansted Airport. Senior managers at WOW air say no disruption is expected for passengers booked on Iceland Express flights.

They are issuing an assurance that all obligations will be fulfilled. The united company will fly under the WOW air brand.

Under the terms of the takeover WOW air will acquire the Iceland Express route network, branding and customer base.

WOW air was established in November 2011 by Icelandic entrepreneur Skuli Mogensen.