While WOW Air has only been around since 2011, the airline has become massively popular thanks to their ridiculously cheap flights. From Paris and Iceland to Dubai, thanks to WOW Air, Canadians were able to travel across the globe for rates as low as $150.
Unfortunately, it seems the airline won't be able to offer those unbeatable prices any longer as a result of this morning's news. That being that the airline has been taken over by Icelandair as a result of the airline continuing to struggle to make enough money to survive.
This sadly means that yes, there probably will be price hikes to the rates you have seen on WOW Air's website in the past. While the prices are great for customers, they make it impossible for these airlines to survive.
Local travel news writer, Kristjan Sigurjonsson, mentioned WOW Air's pricing for a Washington to Iceland flight for $99 as an example. Telling CTV News, "it simply costs more than $99 to fly between continents and WOW Air has not found ways around it."
While low budget airlines have been popping up all over the place recently, many experts claim that they just aren't suited for the long haul. WOW Air serves as an example that these kinds of airlines can only last so long before they are unable to financially sustain themselves, despite how popular they are.
Even with their smaller and newer plane fleets that cut costs because they are easier to fill and are more fuel efficient, variables such as the rising cost of oil have severely hurt them financially.
With WOW Air now under the control of Icelandair, it's unclear what exactly will happen to the airline. Whether it will continue to offer low fares to compete with other cost-effective airlines such as Norwegian Air or try a new approach altogether, remains unclear. Though it's definitely obvious that you might want to get as much travelling done as you can with the low-cost airlines that are still around before they inevitably change their pricing model as well.
Source: CTV News