Thousands of passengers stranded at airports
The Icelandic low-cost airline has announced the end of all operations as of today. The suspension of all flights is due to the deepening financial crisis the carrier has been struggling with recently.
The budget carrier started cancelling and delaying flights from Sunday. As of Thursday morning, all flights are cancelled with no further indication whether the airline will recommence operations in the future.
WOW Air has been struggling with financial debts for the last several months. It has been hoping to find a backer but talks with a US financier, and the rival carrier Icelandair, have failed.
The financial debt of the airline is estimated to be about €175m (£150m).
Passengers are advised to check available flights with other airlines
In a statement, WOW Air said: “Wow Air has ceased operation. All Wow Air flights have been cancelled. Passengers are advised to check available flights with other airlines. Some airlines may offer flights at a reduced rate, so-called rescue fares, in light of the circumstances.
“Information on those airlines will be published, when it becomes available.”
More information is available on the official WOW Air website.
— Flightradar24 (@flightradar24) March 28, 2019
WOW Air was founded in 2012 by an Icelandic entrepreneur, Skúli Mogensen. Currently, the carrier employs about 1,000 people. Its entire fleet consists of 11 Airbus planes.
“We have run out of time and have unfortunately not been able to secure the funding of the company,” said Mogensen in a letter to employees.
“I will never be able to forgive myself for not taking action sooner.”
In 2018, WOW Air carried 3.5 million passengers.