Icelandic budget airline WOW Air says it has ceased operations, stranding passengers across two continents

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.