Wow Air, a budget airline launched in 2012, targeted younger travel audiences with ultra-cheap airfare with minimal additions. The company struggled for the last two years, hemorrhaging nearly $45 million between July 2017 and June 2018. Now, their bankruptcy threatens to ripple through Iceland’s entire economy. Wow Air Bankruptcy Could Cripple Iceland’s GDP, Tank Krona According to a local government task force, Wow Air’s bankruptcy could impact Iceland’s GDP by 3 percent and weaken the Króna by as much as 13 percent. Other forecasts claim as much as a 10 percent drop in exports and a 6 percent increase in
The post WTF: WowAir Tailspin Threatens to Tank Iceland’s Economy appeared first on CCN
source https://www.ccn.com/wtf-wowair-tailspin-threatens-to-tank-icelands-economy
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