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Wow Air was an Icelandic budget airline that operated from 2011 to 2019. The airline offered low-cost flights between Europe and North America, with a focus on transatlantic routes. Wow Air's business model was based on offering low base fares and unbundling additional services, such as checked baggage and seat selection. The airline also offered a loyalty program called Wow Club, which provided members with discounts and other benefits.

Wow Air was founded in 2011 by Skúli Mogensen, a former Icelandair executive. The airline began operations in 2012 with a single Airbus A320 aircraft. Wow Air quickly expanded its fleet and route network, and by 2019 was operating a fleet of 11 Airbus A320s and 3 Airbus A330s. The airline served over 40 destinations in Europe and North America, and carried over 3 million passengers in 2018.

Wow Air faced financial difficulties in 2019, due to a combination of factors including rising fuel costs, competition from other low-cost airlines, and the grounding of its Boeing 737 MAX aircraft. The airline suspended operations in March 2019 and filed for bankruptcy in April 2019.

Wow Air's assets were acquired by Icelandair in 2019. Icelandair has since relaunched Wow Air as a low-cost subsidiary, operating a fleet of Airbus A320neo aircraft. Icelandair Wow Air currently serves over 20 destinations in Europe and North America, and carries over 1 million passengers per year.

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