Icelandic budget carrier Wow Air has ceased operations and canceled its flights, leaving passengers stranded on both sides of the Atlantic.
The airline announced the closure in a statement posted to its website on Thursday. It advised passengers to book new flights on other airlines, and said some may be eligible for compensation.
Wow Air CEO Skúli Mogensen told Icelandic state broadcaster RUV that negotiations to save the airline went on until the early morning in Iceland. (See how the story unfolded in real time here.)
"As is normal, people believed we would get the investment," Mogensen told RUV. "We have been very transparent, but it didn't happen."
"I'm very sorry about this as these are people who have supported us," said Mogensen. "I'm disappointed not to honor our commitments."
A Wow Air flight on the tarmac in Frankfurt.
Saurabh Aggarwal, who was due to fly from Toronto to Reykjavik on Wow Air, described a chaotic scene at Toronto airport.
