Icelandic airline Wow Air has ceased operations and all flights have been canceled.

The company writes this in a statement on its website.N

Earlier on Thursday, Wow Air stated that the company was in the final stages of a capital raising round with investors.

The company urges its travelers to contact other airlines, which may be able to offer a so-called "rescue fare", a reduced price, for holders of Wow Air tickets. 

Earlier this week, the troubled company tried to get holders of convertible bonds to accept terms regarding exchanging bonds for shares in order for the company to be able to finance its operations.

Source: Nyhetsbyrån Direkt