Wow Air is at least the fifth European airline to collapse to since October. Others include Primera Air, Cobalt Air, Flybmi, and Germania.
Unfortunately, the carrier's decision to acquire wide-body Airbus A330-300 jetliners and a move away from its traditional ultra-low-cost business model proved to be a mistake, Wow Air founder and CEO Skuli Mogensen told Business Insider in January.Sadly, the collapse of Wow Air is an old story we've heard before. In fact, no fewer than five European airlines have gone out of business since October.Primera Air was a subsidiary of Icelandic tourism company Primera Travel Group.
Primera Air had been in the process of expanding into the low-cost inter trans-Atlantic airline with a fleet of Airbus A321neo aircraft. The carrier ceased operations on October 2, 2018.Cypress-based Cobalt Air was founded in late 2015 following the shutdown of the country's national airline Cypress Airways earlier that year. Unfortunately, the airline could not sustain its operation financially and shut down on October 17, 2018.
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