{"id":1799,"date":"2019-04-01T18:46:14","date_gmt":"2019-04-01T18:46:14","guid":{"rendered":"https:\/\/worldgo.ca\/newsite\/?p=1799"},"modified":"2024-05-24T14:52:06","modified_gmt":"2024-05-24T14:52:06","slug":"another-low-cost-carrier-has-crashes-into-financial-ruin","status":"publish","type":"post","link":"https:\/\/worldgo.ca\/newsite\/another-low-cost-carrier-has-crashes-into-financial-ruin\/","title":{"rendered":"Another low-cost carrier crashes into financial ruin"},"content":{"rendered":"

Wow Air to close operations<\/h2>\n

On Thursday, March 28th, Wow Air, the Icelandic budget airline canceled all flights, stranding over 1000 passengers. <\/span><\/p>\n

Wow Air joins a <\/span>growing list of low-cost airlines<\/span><\/a> that have ceased operations citing financial hardship among rising fuels costs and over-supply. In recent years, Europe has aso lost Air Berlin, Primera, and Monarch to similar claims.<\/span><\/p>\n

Founded in 2011, Wow Air became known for offering low-cost transatlantic fares to Europe via stopovers in Iceland. As Wow Air heavily undercut other airlines with it\u2019s $99 fares, airlines such as British Airways and Virgin Atlantic reacted competitively with cheaper tickets for those willing to go without amenities like checked bags and preselected seats.<\/span><\/p>\n

After months of financial losses, Wow Air has ceased all operations, subsequently stranding more than 1,000 passengers on both sides of the Atlantic. The Icelandic budget carrier\u2014known for its low-cost, basic services, $99 transatlantic flights\u2014began canceling flights earlier this week and officially issued a <\/span>statement<\/span> Thursday morning informing its passengers to check if other airlines would issue \u201crescue fares\u201d to fly them to their destinations. As recently as this January, Wow Air advertised its \u201clowest airfare ever,\u201d with $49 flights from the United States to Europe. <\/span><\/p>\n

While only a few ago, \u201cWow Air launched $199 one-way fares between the United States and India. But these low fares weren\u2019t enough to save the airline, which suffered from poor customer reviews, rising fuel costs, and a recent dip in tourism to Iceland\u201d, according to <\/span>CNBC<\/span><\/a>.<\/span><\/p>\n

How can I get a refund for my flight purchase?<\/strong><\/h3>\n

Passengers currently stranded since Wow Air ceased operations will be responsible for paying for their own return fares. However, Icelandair, Wizz Air, EasyJet, Norwegian, and XL Airways are all offering reduced \u201crescue fares\u201d to help stranded passengers return home, according to the <\/span>Icelandic Transport Authority<\/span><\/a>.<\/span><\/p>\n

Wow Air recommends contacting your travel agent to see if the ticket costs are covered by a travel insurance policy. However, keep in mind that most travel insurance policies bought in Canada don\u2019t cover airline insolvency. <\/span><\/p>\n

For future travel, Wow Air flights paid for via credit card, <\/span>AirHelp<\/span><\/a>, an air passenger rights company, recommends contacting your credit card company directly to see if it will issue a refund of the ticket cost for services left unrendered. But if you used a debit card to book your flight, it\u2019s unlikely that you\u2019ll get your money back.<\/span><\/p>\n

What does this mean for the future cheap travel to Europe?<\/strong><\/h3>\n

Now that Wow Air has shown that it’s business model isn\u2019t sustainable, expect airfares to go back up. While those $99 fares to Iceland are likely a thing of the past, it doesn\u2019t mean airfares to Europe will skyrocket now that Wow Air is done. In fact, according to a recent report from <\/span>Hopper<\/span><\/a>, flights to Europe are the cheapest they\u2019ve been in three years due to such factors as <\/span>Brexit<\/span> and newer, more <\/span>fuel-efficient aircraft<\/span><\/a>. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Wow Air to close operations On Thursday, March 28th, Wow Air, the Icelandic budget airline canceled all flights, stranding over 1000 passengers. Wow Air joins a growing list of low-cost airlines that have ceased operations citing financial hardship among rising fuels costs and over-supply. In recent years, Europe has aso lost Air Berlin, Primera, and Read More<\/a><\/p>\n","protected":false},"author":8,"featured_media":1800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nAnother low-cost carrier crashes into financial ruin<\/title>\n<meta name=\"description\" content=\"On Thursday, March 28th, 2019, Wow Air, the Icelandic budget airline canceled all flights, stranding over 1000 passengers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/worldgo.ca\/newsite\/another-low-cost-carrier-has-crashes-into-financial-ruin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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