Wow Air collapses a few days before moving to London Stansted | Suffolk and Essex Business News

WOW Air

Wow Air ceased operations on Thursday, March 28th.

The news of the closure came a few hours after the Icelandic company left thousands of passengers stranded worldwide when it suddenly suspended all its flights.

The airline's financial difficulties are well documented – and they are thought to be worth about £ 150 million.

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Hopes of a buyout from rivals Icelandair were wiped out earlier this week after the talks ended.

A message posted on the Wow Air website said, "Wow Air has ceased operations. All flights from Wow Air have been canceled. Passengers are advised to check available flights with other airlines.

"Some airlines may offer discounted flights, called" salvage rates, "depending on the circumstances."

On Sunday, the airline was to move from London Gatwick to London Stansted.

The move would have provided transatlantic travelers with a cheaper alternative than the major airlines.

Daily flights from Stansted to Keflavik Airport, near Reykjavik, were scheduled to begin, with passengers then connecting to the United States and Canada.

A spokesman for Stansted Airport said: "We are very sorry to hear that WOW Air has shut down, which is disappointing for the airport and the passengers.

"The airline currently does not operate flights from London Stansted but was scheduled to return to the airport next month, so we advise all booked passengers to travel to the airline's website for last advice. "

Wow Air was founded in 2012 by the Icelandic entrepreneur Skúli Mogensen and transported 3.5 million passengers last year worldwide.

The collapse was a cause of concern for many travelers who had to use the Wow Air London Stansted service.

But credit expert Alastair Douglas, of TotallyMoney, believes that many customers will be entitled to their money.

He said: "" Lack of knowledge of these situations often leaves consumers out, thinking that there is nothing to do, when it really is not the case.

"If the purchase exceeded $ 100 – and you use a credit card to book directly from Wow Air and not via a third-party booking site – you should be able to recover your money under section 75 of the Consumer Credit Act. "