Iceland airline Wow Air has ceased operations -- all flights canceled

Skúli Mogensen, the founder and CEO of Wow Air
Skúli Mogensen, the founder and CEO of Wow Air

Wow Air, the budget airline based in Iceland, has ceased operations.

All Wow Air flights have been canceled. The airline posted a "travel alert" to its website Thursday morning in which it advises passengers 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, Wow said.

At Detroit Metro Airport (DTW), Wow Air is based out of the North Terminal. The airline became known for offering cheap flights from Detroit to Iceland. There were flights to Iceland in September for $119.99. The airline was offering flights from November through March for under $140.

The BBC reports thousands of passengers were stranded Thursday morning. According to reports, the airline was founded in 2011 by its chief executive officer, Skuli Mogensen. Wow Air started flights in 2012 and grew to employ 1,000 people.

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