WOW Air has closed down and cancelled flights leaving thousands of passengers stranded.
The budget carrier is the latest in a string of airlines to fail over the past two years – as oil prices have risen sharply.
It used its Reykjavik base as a hub airport to connect Europe and North America – with UK services operating from Gatwick, Stansted, Bristol and Edinburgh.
The carrier previously said it was in the final stages of completing an agreement over raising new funds with a group of investors.
Wow Air said in a statement: “Wow Air has ceased operation. All Wow Air flights have been cancelled.
“Passengers are advised to check available flights with other airlines.
“Some airlines may offer flights at a reduced rate, so-called rescue fares, in light of the circumstances.”
More to follow…