WOW Air is in a massive financial crisis. They need immediate liquidity to stay afloat. Icelandair and WOW air struck a deal earlier last month, but the deal went south. Reports came in that Indigo Partners would invest in WOW Air, but nothing has materialised so far.
WOW Air had initially closed five destinations in the USA including New York JFK and Dallas. Now, WOW Air is planning to reduce its fleet to 11 aircraft from the current 20. They will also return the sole Airbus A330 in their fleet. Along with this, they plan on reducing their workforce by 50%.
Following this, WOW Air has zeroed out flights to New Delhi, Chicago and Los Angeles later in January.
New Delhi-Reykjavik (Last flight on January 20, 2019)
Chicago-Reykjavik (Last flight on January 21, 2019)
Los Angeles-Reykjavik (Last flight on January 28, 2019)
WOW Air had returned 2 of its 3 Airbus A330-300 last month. Due to this and the launch of New Delhi-Reykjavik route, the Los Angeles-Reykjavik route is currently operated by an Airbus A321. Since an Airbus A321 doesn’t have the range to operate this route nonstop, there is a technical stop at Edmonton. This sort of beats the purpose of the route. And with the last Airbus A330 also going back to the lessor, New Delhi-Reykjavik route is going to be shut down as well.
WOW Air had launched New Delhi-Reykjavik route with much fanfare. Now, WOW is dropping the New Delhi-Reykjavik route a couple of months after starting it due to their current financial situation. WOW Air will drop Los Angeles and Chicago route also in a bid to turnaround operations. No more $199 one-way fares without any extras and Butter chicken on New Delhi-Reykjavik route from January 20, 2019.
Will WOW Air successfully turnaround and rise again?