The airline, founded by entrepreneur Skuli Mogensen, started its activities in 2012 and specializing in the ultra-cheap flights between North America and Europe.
Icelandic budget airline WOW Air suspended on Thursday, stranding passengers on the two continents.
In a statement on the website of the airline, which has already suspended all its flights, told passengers there would be no further flights and advised them to check flights with other airlines for ways to achieve their goals.
The airline, founded by entrepreneur Skuli Mogensen, started its activities in 2012 and specializing in the ultra-cheap flights between North America and Europe, with flights to and from airports in cities such as Washington, D. C, New York, Paris, London and its Reykjavik hub.
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The bankruptcy comes after six months of turbulent negotiations for the sale of the low-cost carrier, first to his main rival and flag of the ship, airline Icelandair, and later to Indigo ners, a U.s. company that the airline Wizz.
“I will never forgive myself for not acting sooner,” Mogensen said in a letter to employees Thursday. “WOW was clearly an incredible airline, and we were on the path to do amazing things.”
Tourism is Iceland’s largest industry-and WOW’s disappearance is set to have an effect on this summer is the high season.
In the first years of the airline quickly expanded to 37 destinations and reported up to 60 percent annual growth of the number of passengers. The revenue per passenger, however, is not maintained and fell by about 20 percent in 2017, according to the latest earnings report.
WOW grounded for at least six aircraft in North America, that were ready to leave late Wednesday from Montreal, Toronto, Boston, Detroit, New York and Baltimore.
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In Europe, Reykjavik-bound planes out of the seven cities: Amsterdam, Dublin, Paris, Brussels, Berlin, Frankfurt and Copenhagen — not from Thursday morning.