March 29, 2019 / 6:53 AM / a month ago

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

People wait as WOW air flight gets delayed and cancelled at Toronto Pearson International Airport, in Toronto, Ontario, Canada March 27, 2019 in this picture obtained from social media on March 27, 2019. ANN CAMPBELL/via REUTERS

COPENHAGEN (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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