WOW air (WW, Reykjavik Keflavik) has announced that it has ceased operations effective immediately and that all future flights have been cancelled.

Earlier on March 28, it said it was still "in the final stages of finalizing equity raise with a group of investors" with an additional update to be provided later in the day, but these plans seems to have also failed. According to ch-aviation analysis of FlightRadar24 ADS-B data, all active Wow Air aircraft are currently on the ground at destination airports in North America as well as Copenhagen Kastrup with return flights scheduled overnight from North America to Reykjavik's Keflavik airport having been cancelled already.

WOW air has been looking for an investor since at least mid-November 2018, when it entered into a preliminary agreement with Icelandair Group. The talks with the fellow Icelandic airline broke down after over a month. At that time, Indigo Partners stepped in as a potential investor. The talks with the investment group also failed and were followed by another attempt at a deal with Icelandair. This eventually fell through on March 24.

The airline had until March 25 to make ISK150 million krona (USD1.25 million) worth of quarterly interest payments on its bonds and then agreed with bondholders to convert their bonds into equity.

The Icelandic LCC operated one A320-200neo, eight A321-200s, and two A321-200neo. At the end of November, amid worsening liquidity crunch, the airline retired all three A330-300s.

Two A321s, namely TF-PRO (msn 7680) and TF-NOW (msn 7715) leased from Bocomm Leasing were impounded at Montréal Trudeau on March 24 and 25, respectively, and remain stored there.

Editorial Comment: Updated to reflect final decision to cease operations. - 28.03.2019 - 08:32 UTC