Keflavik - The Icelandic budget carrier WOW Air reduces its fleet by four aircraft. The airline will return two Airbus A320, and two Airbus A330-300 aircraft to the lessor as part of its restructuring plan.

WOW Air experiences bad days with its own words. In a letter to the shareholders, the company stated that action must, therefore, be taken. Earlier this month, the airline had announced that it was in talks with rival Icelandair about an acquisition.

But, earlier this week, it appeared that the acquisition of WOW Air by Icelandair was in doubt. Conditions for the takeover deal could not be met before the shareholders' meeting, said Icelandair. It seems that WOW Air also negotiates with other investors. Unspecified parties are also interested in the takeover of WOW Air, according to some sources.

The acquisition was intended to give both Icelandic companies more power to compete with other companies. Together they have a market share of approximately 3.8 percent in the transatlantic aviation market. After the merger, both airlines would continue under their own brand.

The four aircraft that leave the fleet in the short term are the Airbus A320s with registration TF-BRO and TF-SIS and the A330s TF-LUV and TF-WOW. As a result, the fleet will soon consist of one Airbus A320neo, twelve A321, two A321neo, and one A330-300.

Next year, WOW Air is expected to take delivery of four brand new A330-900.