28 March 2019 will remain in aviation history as the day when WOW Air ceased operations. Iceland's low-cost carrier went bankrupt.
The bankruptcy of WOW Air was not a surprise to those in aviation. The Icelandic air carrier is facing major financial problems, especially on the cash-flow side. It was a matter of time until the decision to stop the activity.
WOW Air fought until the last day, hoping it could continue its flights. WOW Air officials have made significant efforts to find investors.
WOW Air went bankrupt
Since 2018, WOW Air has been looking for strategic partners in securing the capital needed to stay afloat. Apparently, the hope came from
Icelandair. Only after 2 failed negotiations, the last hope was gone. In the case of WOW Air, the hope is dead.
WOW Air was (already mentioned in the past by this airline) a low-cost airline, eager to expand its activity on long routes. Unfortunately, several external factors, including rising fuel prices, high rates on airplanes, loading under expectations, have shattered the WOW AIR dream.
WOW Air lost $ 33.6 million in just 2 months. It happened between July and September 2018. Then the situation got out of control.
All flights were canceled
WOW Air could have benefited much more from the geographical position of Iceland, being located between Europe and North America. He has flown to destinations such as Boston, New York, Detroid, but also to London or Amsterdam.
It had a fleet of Airbus aircraft, A320neo, A321, A321neo and A330. The operational network numbered 47 destinations in Europe and North America.
But it all ended on 28 March 2019, on a Thursday. WOW Air has ceased operations and all flights have been canceled.
Unfortunately, in addition to the employees of WOW Air, the passengers also suffered. In their help jumped the Icelandic authorities, who tried to re-rout the passengers affected by the WOW Air bankruptcy. At the same time, passengers can request the refund of money on tickets or compensation. And with the dream of traveling how is it?
We remind you that in 2018 and 2019, so far, Primera Air, Germany and FlyBmi have gone bankrupt. Now WOW Air. What will be the next airline?