Why this may be the end of WOW Air?

WOW Air has been on the rocks financially for a while now. Talks about a buyout by another airline have been in the works, including the potential for fellow Icelandic airline Icelandair to buy out WOW, which has been on the table twice. Icelandair has now made it clear that a deal will not happen, and with the current talks with Indigo Partners about a potential buyout falling through, WOW’s time may be close to an end.

On Sunday, one of WOW’s aircraft was repossessed in Montreal. The airline then started cancelling numerous flights, including those to Chicago, Detroit, Pittsburgh and London. I’m not sure if there is any hope for WOW, and we could certainly see the end of the airline in short order.

WOW is known for offering crazy sales to Europe, including fares for $69 one-way to a number of destinations, one of which I almost jumped on last year. The budget carrier charges you for everything, offering a business model similar to RyanAir or Spirit where they simply sell…