Thousands of passengers blocked by low-cost airline Wow Air suspend all flights

Dubai: Thousands of pbadengers are facing travel delays today, March 28, while the low-cost European airline Wow Air has decided to suspend all its flights.

The low-cost Icelandic airline was struggling financially and is currently in talks to restructure its debt.

In a statement, the airline confirmed that it was about to conclude negotiations with investors for a capital increase, but in the meantime, it puts an end to its activities.

Flight cancellations are effective March 28th and will remain so until further notice.

The transatlantic airline had previously announced its intention to deploy economy flights between Delhi in India and North America.

"Wow Air, which is in the process of finalizing the fundraising with a group of investors, postponed all flights on March 28 until the documentation with all parties involved is finalized", announced the company.

The carrier badured that all the pbadengers concerned had been informed.

Headquartered in Reykjavik and based at Keflavík International Airport, Wow Air operates flights between Iceland, Europe and North America.