Budget airline WOW Air ceases operations

REYKJAVIK, Iceland (FOX 2) - Icelandic budget airline WOW Air says it has ceased operations, stranding passengers across two continents.

A statement on its website says this is the end of operation of WOW Air, and that all WOW Air flights have been cancelled. Passengers are being advised to check flights with other airlines Thursday.

The airline, founded by entrepreneur Skuli Mogensen, began operations in 2012 and expanded quickly.

It specialized in ultra-cheap flights between North America and Europe, with flights from 27 airports, including Washington, D.C, New York, Paris, London and its Reykjavik hub.

It's not clear yet if passengers will be refunded for flights. Passengers whose ticket was paid with a credit card are advised to contact their credit card company to check whether a refund of the ticket cost will be issued.

WOW Air didn't give any other details about why it's ceasing operations.

This is a developing story. Stay with us for updates.

FOX 2 reported on this story from Southfield, Mich.

The Associated Press contributed to this report