The low-cost Icelandic carrier has been battling with debts after an attempt to rescue it fell through.
The announcement from the airline comes following a week of travel disruption for its passengers, who have been faced with multiple cancelled and delayed flights earlier this week.
Despite the airline saying previously that it was in final stages of negotiations with a group of investors, all aircrafts have now been grounded and the company has cancelled all future flights.
WOW Air said in a statement on its website today, “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.”
What are passengers rights?
Passengers who have been affected by the airline collapse are being urged to re-book their flights with alternate airlines.
Wizz Air are already offering rescue flights for all WOW Air passengers whose flights from or to Reykjavik to Warsaw, and London Stanstead and London Gatwick were cancelled following the airline’s bankruptcy.
Passengers whose tickets were paid for with a credit card are advised to contact their credit card company to check if a refund of the cost will be issued, while those who purchased their ticket from a European travel agent as part of a package deal are protected by the Package Travel Directive.
Those passengers are advised to contact their travel agent to arrange an alternative flight.
Passengers who bought travel protection may be entitled to claim compensation and assistance due to delays or travel disruption.
It may also be possible to claim compensation from WOW Air in accordance with European regulation on Air Passenger Rights.