On Thursday, Wow Air announced it would cease operations and cancel all flights after failing to attract funding to keep covering its losses. Founder Skuli Mogensen, a former tech entrepreneur, had tried everything – including a sale to flag-carrier Icelandair, which he had once mocked as a dinosaur. But those talks fell through, and so too did negotiations with US private equity firm Indigo Partners.
Founded in 2011, Wow Air grew rapidly. Last year, it...
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