WOW Airlines Downfall

  • Passengers in Iceland advised to check for ‘rescue fares’
  • Founder Mogensen: ‘I will never be able to forgive myself’

Wow Air Hf has gone out of business, stranding thousands of passengers and creating potentially huge risks for Iceland’s tiny economy and its growing reliance on tourism.

The discount carrier is the eighth European airline to have failed since the summer as margins are pinched by fluctuating fuel costs and over-capacity that’s sparked a continent-wide fare war.

www.bloomberg.com/news/articles/2019-03-28/wow-air-cancels-all-flights-as-it-seeks-to-seal-financing-deal

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