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For Immediate Release | Official News Wire for the Travel Industry

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WOW Air shut down: Thousands stranded

March 28, 2019 by Forimmediaterelease

This is the email WOW Air passengers received after the airline shut down and flights were canceled: Dear WOW air guest, thank you for contacting us. We regret to announce that WOW air has ceased operation, and all flights have been cancelled. Further information can be found at WOW Air.

Following the news that WOW Air has ceased operations after failed negotiations to save it, leaving thousands of passengers stranded, Ralph Hollister, Associate Travel & Tourism Analyst at GlobalData, a leading data and analytics company, offers his view:

“The closures of smaller sized airlines such as WOW Air come as little surprise. Even major airlines such as Ryanair with significantly higher profit margins are suffering with the issues at the root of these closures – high fuel prices and overcapacity.

“With finances having already been in decline for a number of months, WOW had to reduce its fleet from 24 to 11, along with reducing the number of destinations available to customers.

“Overcapacity is a factor which can be managed unlike fuel costs, but timeliness is critical and WOW acted too late.

“Smaller airlines need to be more sensitive to changes in the market. Being one step ahead in terms of potential future decreases in demand for specific routes will enable airlines to decrease flight frequency proactively.

“This will decrease the amount of empty seats and most importantly, keep them afloat in a highly competitive industry.” 

 

Travel News | eTurboNews

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Any WOW Air reservation may not materialize: Airline has major problems

March 25, 2019 by Forimmediaterelease

“Bummer that WOW Air is potentially going under – had a very flawless experience with them. But does this mean fewer tourists in Iceland?”, a disappointed passenger posted to twitter.

Icelandic tourism professionals did not yet comment on the hopeless sounding situation of Wow Air.  The airline was founded by an Icelandic entrepreneur, Skúli Mogensen. It first flew to Paris on 31 May 2012 and later that year took over an existing airline, Iceland Express.

WOW Air based in Iceland is fighting for survival. On Sunday evening rival IcelandAir, the potential rescuer announced  that Icelandair Group has decided that its possible involvement in WOW air’s operations, as announced on 20 March 2019, will not materialize. Therefore, all discussions between the parties have been canceled.

Today Indigo Partners Will Not be Investing in WOW Air According to a recent statement made by the company, Indigo will not be negotiating further with WOW Air and instead will be opening talks with Icelandair Group.

The 9:30am flight from London Gatwick to Reykjavik in Iceland was canceled this morning at short notice, with more flights canceled later in the day according to its website.

Wow Air then issued its own statement saying: A majority of WOW air Bond Holders and other creditors of WOW air are in advance discussions with the aim of reaching an agreement on a voluntary restructuring including an agreement of converting current debt into equity and fund the company towards long term sustainability. Further information will be given tomorrow.

Within hours, Wow Air started canceling flights – including the early morning trip from Reykjavik to Gatwick, due to leave at 6.20am on Monday. The return leg to the Icelandic capital, due to leave Gatwick at 9.30am, was also grounded.

Wow Air has also canceled trips from Reykjavik to Chicago and Pittsburgh on Monday, with links to Brussels and Barcelona grounded on Tuesday.

 

Travel News | eTurboNews

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