This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/business-47731043
The article has changed 13 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Iceland's Wow airline collapses | |
| (32 minutes later) | |
| Iceland's Wow airline has stopped flights and says passengers needing to travel should book with other airlines. | Iceland's Wow airline has stopped flights and says passengers needing to travel should book with other airlines. |
| Its website says: "Wow Air has ceased operation. All Wow Air flights have been cancelled." | Its website says: "Wow Air has ceased operation. All Wow Air flights have been cancelled." |
| The carrier, which had been in funding talks with investors, flew from London Stansted and Gatwick in the UK. | |
| It said some airlines may offer flights at a reduced rate, so-called rescue fares, and it would publish information on those when it becomes available. | It said some airlines may offer flights at a reduced rate, so-called rescue fares, and it would publish information on those when it becomes available. |
| Wow said passengers covered by various protected booking methods, including booking by credit card or through a European travel agent, should try to get their money back from them. | |
| Otherwise it says they could be entitled to some compensation from Wow, "including in accordance with European regulation on Air Passenger Rights", or, in case of a bankruptcy, claims should be filed to the administrator or liquidator. | |
| Wow started flights in 2012 and grew to employ 1,000 people, carrying 3.5 million passengers last year in its 11 aircraft. | |
| It operated both short and long haul routes, flying to Copenhagen and Alicante in Europe and Washington and Boston in the US. | |
| A number of airlines have run into financial trouble recently. | |
| Earlier this year, Germany's Germania filed for bankruptcy. Low-cost carrier Norwegian underwent a major fund raising, blaming rising fuel prices and currency fluctuations for its troubles. | |
| The UK's struggling Flybe was taken over earlier this month for just one penny a share. | |
| Even giant budget airline Ryanair reported its first quarterly loss since March 2014 last month. |