Icelandic budget carrier Wow Air has ceased operations and cancelled all flights, hours after suspending services while it attempted a last-ditch financial rescue.
The struggling carrier had been trying to arrange a debt-to-equity conversion with bondholders after talks with potential investment partners collapsed.
But the airline, which had called a temporary halt to flights on 28 March, states that it has now “ceased operation”.

Wow Air bondholders have agreed to convert their debt into equity in the beleaguered low-cost carrier.
The approval is part of Wow Air's latest restructuring attempt, which it says involves raising funds from investors to secure its "long-term sustainability".
The bondholder approval comes after Icelandair has twice pulled out of acquisition discussions, and Indigo Partners, known for its investments in successful low-cost carriers ranging from Wizz Air to Volaris, dropped plans to invest up to $90 million in Wow Air earlier in March.

Jet Airways has grounded another seven aircraft, taking the number of grounded aircraft up to 55 for default of lease payments.
Similar to its previous disclosures, the company "is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken by the company to improve its liquidity. Aircraft lessors have been supportive of the company's efforts in this regard."