HomeBusiness ReportBEFORE THE BELL: WOW Air announces closure

BEFORE THE BELL: WOW Air announces closure

Some Canadian travellers are most likely affected by news this morning that Icelandic budget airline WOW Air has abruptly gone out of business.

Passengers have been stranded in North America and Europe after the airline announced it had ceased operations.

WOW grounded at least six planes in North America that were set to leave last night from Montreal, Toronto, Boston, Detroit, New York and Baltimore.

Iceland-bound planes from seven European cities did not take off this morning.

WOW Air airline began operations in 2012 and specialized in ultra-cheap flights from 27 airports between North America and Europe.

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On the markets Wednesday,

The TSX was off by 22 points to finish the day.

Crude slipped 53 cents to $59.41 U.S. a barrel.

Gold fell $4.60 to $1,310 an ounce, on a two day losing streak.

The loonie weakened by 17/100ths of a cent to $0.7456 U.S.

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