were unlikely to be met. The same day, Indigo Partners, which has stakes in several ultra low-cost carriers, reached a preliminary agreement to buy Wow Air. Shortly after, Wow Air announced major adjustments to its operations: the staff was reduced by 360 down to about 1,000, a further five aircraft (four Airbus A321s and the remaining A330) were to be phased out and the A330neos ordered would be cancelled. Wow Air thus ended its routes to Delhi, Los Angeles, San Francisco (which was seasonal) and Vancouver (which was to be introduced as a seasonal route in 2019). In January 2019, Wow Air disclosed that Indigo's investment would initially correspond to a 49% shareholding, with the option to increase at a later date. However, by March 2019, Indigo Partners withdrew its investment proposal and Wow Air briefly but unsuccessfully resumed talks with Icelandair Group, but after Icelandair examined WOW's finances, they quickly dismissed the proposals. On 25 March 2019, the day after talks with Icelandair ceased, several Wow Air flights were cancelled, fueling speculation as to the airline's fate. The airline attributed the cancellations to a technical failure and its knock-on effects, although two planes were immobilised after being repossessed by the lessor. On 26 March 2019, Wow Air announced the conversion of bonds into equity and ongoing discussions with bondholders to secure the company's sustainability. The following day, the company postponed all flights scheduled for 28 March "until documentation with all parties involved have been finalised." End of operations (2019) On 28 March 2019, Wow Air announced that it was ceasing operations. All flights were cancelled and thousands of stranded passengers were advised to book flights with other airlines. The founder of the company, Skúli Mogensen, has spoken of a possible resurrection of the airline with a new, slow-growth business plan, if he receives the $40 million he needs. He plans to re-launch the company with 5 brand new Airbus A321neos. Wow Air's website has since been taken down and replaced by a static update page. Due to the market share of Wow Air on the Icelandic air travel market, the airline's bankruptcy caused some disruption in the travel plans of multiple expected visitors. The loss of flights harmed Iceland's tourism and fishing-dependent economy and caused an increase in unemployment; the airline previously delivered over one fourth of all visitors to Iceland, and its failure caused tourist visits to drop