Add Wow Air to a long — and growing — list of airline failures around the world. Like Primera Air before it and perhaps Norwegian before long, the Icelandic carrier was a victim of intense fare competition on transatlantic routes. In general, airlines that have perished in the last year have been small, lacking the scale and capital resources to endure through competitive battles, fuel shocks, and other challenges. The last big airlines to collapse were Air Berlin and Monarch in 2017. (A few others, like Flybe in the UK, were headed for collapse before being rescued through takeovers.)

Recent Airline FailuresLaunch DateDate of FailureBase
Wow Air2012Mar-19Iceland
Germania1978Feb-19Germany
Flybmi1987Feb-19U.K.
Insel Air2006Feb-19Curaçao
California Pacific2018Jan-19U.S.
PrivatAir1977Dec-18Switzerland
Small Planet2008Nov-18Lithuania
Cobalt2016Oct-18Cyprus
Primera Air2009Oct-18Denmark
Cello2009Oct-18UK
Shaheen1994Oct-18Pakistan
Auzr Air2017Sep-18Germany
Wataniya Airways2017Sep-18Kuwait
SkyWork1983Aug-18Switzerland
VLM1992Aug-18Belgium
OneJet2015Aug-18U.S.
NextJet2002May-18Sweden
Aserca1968May-18Venezuela
Saratov Airlines1931May-18Russia
Air Arabia Jordan2015Apr-18Jordan
SBA Airlines1997Apr-18Venezuela

Senior Editor Andrew Sheivachman contributed to this report.

Tags: flybe, wow air
Photo Credit: Wow Air joins a growing list of airlines that have gone defunct this past year. Wow Air