March 29, 2019 / 6:47 AM / 3 months ago

WOW Air collapse to hurt Iceland's economy, central bank

COPENHAGEN, March 29 (Reuters) - The collapse of Iceland’s budget airline WOW Air this week will hurt the country’s economic growth this year, central bank governor Már Gudmundsson said in a speech.

“It is clear that WOW’s collapse will have a negative impact on GDP growth, particularly in 2019. It is unlikely that this alone will push Iceland into a contraction this year, though,” Gudmundsson said in a speech published on the central bank’s website late Thursday. (Reporting by Jacob Gronholt-Pedersen Editing by Shri Navaratnam)

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