Wow Air has ceased all operations, cancelling all of its flights and leaving thousands of passengers stranded.
In the early hours of Thursday morning the Icelandic airline said it had halted all flights while completing an agreement with a group of investors over raising new funds.
But the carrier, which connected Europe and North America via Reykjavik, with UK flights serving London Gatwick, London Stansted and Edinburgh, later annouced it had “ceased operations”.
The company said in a statement: “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.”
It added: “Passengers may also be entitled to compensation from Wow Air, including in accordance with European regulation on Air Passenger Rights.
“In case of a bankruptcy, claims should be filed to the administrator/liquidator.”
Many stranded passengers wrote on Twitter, voicing frustration and appealing to other airlines to help them reach their destinations.