The Icelandic budget airline went bankrupt in March leaving thousands of passengers stranded all across Europe and North-America. During this, the former WOW Air CEO Skúli Mogensen said that time simply ran out before the airline was able to find funding to keep them operational.

In a press conference in Reykjavík earlier today Ballarin confirmed that an agreement had been made between USAerospace and the representatives of the bankrupt estate of the Icelandic airline. During the meeting Ballarin issued a statement, confirming that the new airline would commence operation in October.

She gave no financial details of the buyout, but USAerospace said that it had earmarked $85 million to help with WOW’s cash flow.

Ballarin will become the chairman of WOW Air LLC, and the main base of the airline will be at Washington Dulles airport along with facilities at Keflavík airport and an office located in Reykjavík.

At the conference, Ballarin emphasised that the new budget airline will start with few destinations, aiming at maintaining between ten and twelve airplanes at a time. At first, it will only operate two planes and Ballarin expects them to be both from Boeing and Airbus manufacturers.

She additionally said that air cargo will become an important part of the operation of the new airline. „We also want to focus on building a strong air cargo capability between Keflavík and Washington. We look forward to bringing some unique opportunities here for commerce,“ said Ballarin.

It is great to see a comeback of WOW Air which was a popular choice among budget travellers offering low fares between Europe and the USA.

Let’s hope the new investors will have more luck surviving in current tight air travel market!

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It had grounded aircraft early on Thursday following months of talks with prospective financial backers – saying it was in the final stages of negotiations with a group of investors and further information would be provided later in the morning.

However, the heavily indebted company later said it had “ceased operation” and cancelled all future flights.

It said some airlines may offer flights at a reduced rate, so-called rescue fares, and it would publish information on those when it becomes available.

Wow said passengers covered by various protected booking methods, including booking by credit card or through a European travel agent, should try to get their money back from them.

The budget carrier is the latest in a string of airlines to fail over the past two years – as oil prices have risen sharply in a competitively-priced market.

Monarch Airlines, Primera Air, Flybmi and Air Berlin have been among the most recent casualties while struggling Flybe was bought up by a consortium including Virgin just last month.

Wow used its Reykjavik base as a hub airport to connect Europe and North America – with UK services operating from Gatwick, Stansted, Bristol and Edinburgh.

The airline was founded in 2011 by its chief executive, Skuli Mogensen. It started flights in 2012 and grew to employ 1,000 people, carrying 3.5 million passengers last year in its 11 aircraft.

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You can book for example return flights from Berlin to New York for only €239 with this promotion!

Another option is flights from Berlin to Reykjavik for only €86!

To get the discount, apply the promo code WOWXMAS16.

10 kg cabin luggage is included for all flights, you can pay extra for classic 20 kg check-in luggage.

Travel dates are restricted until 7th April 2017 for this promotion but you have to book only today, 23rd December, to get the discount!

WOW Air’s departure airports in Europe:

• Berlin
• Dusseldorf
• Frankfurt
• Alicante
• Amsterdam
• Barcelona
• Brussels
• Copenhagen
• Dublin
• London
• Milan
• Paris
• Rome
• Stockholm
• Warsaw
• Vilnius

WOW Air’s destinations:

• Reykjavik
• New York
• Boston
• Washington
• Pittsburgh
• San Francisco
• Miami
• Los Angeles
• Toronto
• Montreal

Example bookings:

• Berlin – New York on 19.-21.1. for €239 (many other dates for few Euros more)
• Berlin – Reykjavik on 3.-11.2. for €86
• Berlin – San Francico on 27.1.-10.2. for €234

Hurry up and book your seats in this really great sale!

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Accommodation in New York

New York offers all kinds of accommodation from cheap hostels for budget travellers to super luxurious suites in 5 star hotels. You can find lot of great deals but it’s advisable to book well in advance. You can also book cheap room through AirBnB – get free €20 credit!

Renting a car in New York

It is a good idea to explore a bit more than just New York on a trip and the easiest way to do this is to rent a car and go on a small roadtrip. Prices of car rental are generally pretty low in the USA.

Weather in New York

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The post 50% off WOW Air sale: New York for €239, Iceland for €84 and more! appeared first on RushFlights.com.