Passengers stranded after Iceland’s WOW air collapses
The airline is the latest budget airline casuality as the European airline sector grapples with over-capacity and high fuel costs
Reykjavík — Iceland’s WOW Air became the latest budget airline casualty on Thursday, halting operations and cancelling all future flights after efforts to raise more funds failed. WOW, which focused on low-cost travel across the Atlantic, advised stranded travellers to seek flights with other airlines. It flew a total of 3.5-million passengers in 2018 . “This is probably the hardest thing I have ever done but the reality is that we have run out of time and have unfortunately not been able to secure the funding of the company,” WOW CEO and founder Skuli Mogensen wrote in a letter to the company’s 1,000 employees. “I will never be able to forgive myself for not taking action sooner,” he added. WOW had earlier postponed flights on Thursday as it entered what it had hoped were the final stages of an equity raising with a group of investors. “My flight from Boston has been cancelled. Having a hard time getting through to anyone on the phone. Can you help me at all?” Twitter user Marc Sol...
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