OSLO, March 28 (Xinhua) -- Iceland's financially struggling budget airline WOW Air said on Thursday it had ceased operations and cancelled all its flights.
"Passengers are advised to check available flights with other airlines," WOW Air said in a statement on its website.
"Some airlines may offer flights at a reduced rate, so-called rescue fares, in light of the circumstances," it said.
WOW Air had been searching for an investor for months but no viable investor could be found for the airline.
It was believed that anywhere between 2,700 and 4,000 passengers were stranded in total, according to the Iceland Review news website.
Icelandair, the flag carrier of Iceland, was now working on a plan to assist WOW Air passengers to return to their homes, and the work was expected to be completed in the next couple of hours, the report said.
WOW Air was founded in 2011 and commenced operations in May 2012. It was headquartered in Reykjavik, Iceland, and had operated services between Iceland, Europe, Asia, and North America.
