Icelandic airline WOW air ceases operations

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But the carrier, which connected Europe and North America via Reykjavik, with United Kingdom flights serving London Gatwick, London Stansted and Edinburgh, later annouced it had "ceased operations".

"With flights and holidays cancelled as a result of the Wow Air collapse, a lot of people's holidays will be ruined over the coming months", said Brian Brown, head of insight at Defaqto.

Icelandair may be abandoning two of its North American routes, but it's not about to abandon WOW Air's stranded customers on either side of the Atlantic.

The airline notes that fares are "subject to availability".

Wow Air was founded in late 2011 with the goal of offering cheap flights and competing with Icelandair.

Stranded passengers are being advised to check available flights with other airlines.

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Visitors to Iceland are set to drop this year for the first time in a decade, according to the operator at Keflavik International Airport.

One wrote: 'Tempers were high last night at #yyz #wowair.

"Sometimes you get a new aircraft that comes along that allows others to introduce competition when previously there was none", he said.

If a credit card was used to pay for the flight, that company might have a level of protection too and issue some form of a refund, Wow Air said.

On the page where Wow touts its tagline - "We aim to WOW!" - that phrase is being hijacked by people who say they "got WOW'ed" - meaning abandoned.

Nick Laporte stranded due to Icelandic Airline bankruptcy.

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For trips to and from Europe fares are $60 and for trips to and from North America it's $100.

"The best chance consumers have for getting their money back hinges on whether they purchased travel insurance, or purchased their tickets with a credit card that offers travel insurance", says NerdWallet's personal finance expert Arielle O'Shea.

It's also a good idea to be as familiar as possible with your insurance plan before you travel.

The travel editor of the Independent, Simon Calder, said in these situations other airlines would step in as they did not seek to make money out of "a bad situation".

"We have a strategic vision for the airline, and look forward to working with its employees and agents to deliver that vision", said an Indigo's management partner when everything was right on track.

Nearly 10 low-priced airlines collapsed in 2018, including Belgium's VLM Airlines, Denmark's Primera Air and Cyprus' Cobalt Air. "We have been very transparent, but it didn't happen".

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