Icelandic low-cost carrier Wow Air ceased operations and canceled all flights on Thursday. The financially struggling carrier has been seeking an investor to bail it out, but discussions with private equity firm Indigo Partners—which has stakes in several low-cost carriers, including Frontier and Mexico's Volaris—failed last week, as did earlier discussions with Icelandair. Wow is advising passengers to check with their payment providers or agents for refunds and to look for "rescue fares" offered by other airlines for alternative flights. Aer Lingus, EasyJet, Icelandair, Norwegian, Wizz and XL Airways are offering rescue fares.