Iceland's budget carrier WOW Air has ceased operations and cancelled all flights - potentially leaving thousands of passengers stranded as well dealing a heavy blow to tourism on the volcanic island.
Low cost carrier WOW has grounded all flights indefinitely after entering a final round of talks with investors. Passengers had been advised to seek other means of travel, but many have been left stranded.
The skies over Asia Pacific are more crowded than ever thanks to the rise of low-cost airlines. As costs continue to rise, and flyers are tempted with fares for just a few cents, profit margins are razor-thin.
Ryanair has become the first noncoal company to join Europe’s top 10 carbon emitters. The Irish airliner is "the new coal," one expert said.
Ryanair said its first-quarter profit dropped more than a fifth due to higher fuel costs and salaries for pilots. The budget carrier is under growing pressure to improve pay and conditions for its staff.
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