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Thousands of passengers stranded as Wow Air stops flying

Wow Air has stopped flying, leaving thousands of passengers stranded.

The Icelandic airline said it had cancelled the day’s flights while completing a deal with a group of investors over raising new funds.

But it later announced it had ‘ceased operation’ with all future flights cancelled.

The carrier connected Europe and North America via Reykjavik, with flights serving London, Washington, New York, Dublin, Toronto, Brussels and Edinburgh.

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. Information on those airlines will be published, when it becomes available.’

The airline, which was launched in 2012, had a fleet of 11 planes and employed around 1,000 people.

A number of airlines have run into financial trouble recently.

UK regional airline Flybmi stopped flying in February.

Even giant budget airline Ryanair reported its first quarterly loss since March 2014 last month.