WOW Air is considering raising funds through a stake sale in 2018, as major airline groups are interested in the Icelandic carrier.

The funds would help finance expansion plans of the Reykjavik-based airline, who is looking to expand to Asia this year. The carrier is open to an outside investor or the IPO route, according to CEO and founder Skuli Mogensen.

Mogensen said that the low-cost, long-haul model has been validated with the recent interest in Norwegian, and he plans to call on "a few select peopleā€ to gauge interest in his airline.

WOW is also looking at creating a new hub in order to allocate excess capacity during the low season. The airline, which is currently looking at the southern hemisphere as a possible location, may launch a new unit or partner with another carrier to loan its aircraft out.