Iceland's WOW air became the latest budget airline casualty on Thursday, ha...
- 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.
“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.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.
FILE PHOTO: Skuli Mogensen, CEO of WOW air, poses with cabin crew members during a delivery ceremony of his first Airbus A321neo, during the 52nd Paris Air Show at Le Bourget Airport near Paris, France June 21, 2017.
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