Iceland’s WOW air turns loss into profit

Fortunes of Icelandic low-cost airline WOW air have taken a turn for the better, according to new figures released for the first quarter of 2016.

A ISK 280 million loss in Q1 of 2015 has been turned around – into a healthy profit of ISK 400 during the same period this year.

Total revenue for the period was roughly ISK 4 billion (€28.5 million).

“We are very pleased with our achievements in this first quarter of 2016,” says CEO Skúli Mogensen.

“Personally, I am chiefly grateful for the good response to our North America flights and for how well the WOW air team has dealt with this huge growth with a smile on their faces.”