Wow Air Ceases Operations Following Months of Financial Troubles

After failing to close a deal with a group of investors, Iceland's Wow Air  announced that it has ceased operations as of Thursday morning. The company was forced to go under after last-minute negotiations were unsuccessful and a much-needed injection of capital was denied. "We weren't able to secure funding for the company," said Skuli Mogensen in a letter to WOW employees. "I will never be able to forget myself for not taking action sooner." The bitter announcement occurred just…