Iceland’s WOW air doubles revenues in one year

Photo: WOW air

Icelandic low-cost airline WOW air saw revenues of ISK 15.3 billion (approx. €127 million) in the third quarter of 2016 – this is 104% more than during the same period last year.

Profits have risen by an even greater factor, from ISK 1.5 billion in Q3 2015 to ISK 3.5 billion (approx. €29.2 million) in Q3 this year.

This Q3 increase in revenue closely mirrors the airline’s increase in revenue for 2016 as a whole (first three quarters), which currently stands at +105%. These figures come from a WOW air press release.

MORE: Iceland’s WOW air to ramp up services linking Europe and USA

“We have invested majorly in developing WOW air in recent years – not least this summer with the addition of three new A330 jets and new routes to Los Angeles and San Francisco,” says WOW air CEO Skúli Mogensen.

“We have recruited hundreds of people this year and WOW air’s total workforce is approaching 700. They are a wonderful team who deserve great credit for their tireless work over the past five years – something which is reflected in the airline’s good results.”

WOW air CEO Skúli Mogensen.

WOW air CEO Skúli Mogensen. Photo: Icelandair/Rax

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