The Icelandic budget airline Wow Air has ceased operations. “All Wow Air flights will be cancelled,” said the Airline on their Website. The decision relates to the Connections between Iceland’s capital Reykjavík and 26 primarily European and North American cities. In Germany Wow Air flew to date Frankfurt am Main and Berlin-Schönefeld.

just a Few hours earlier, the Airline had already informed to leave their aircraft until Further notice, on the ground. It was in the final stages of capital, negotiations with investors, it said on justification. Until everything is finalized, would be suspended all flights.

The airline had conducted in the past few days, conversations with Icelandair, after negotiations with the venture capital investors Indigo Partners had been canceled. Icelandair had withdrawn in the past year, a takeover offer at Wow Air. In December 2018, Wow Air announced that it would reduce its aircraft fleet by 20 to eleven aircraft and to reduce the staff by 111 jobs to around 1,000 employees.

The setting of flight operations is likely to have a greater impact on the important tourism industry in Iceland. Around two million tourists visited the island, with almost 350,000 inhabitants in the year 2017.