Budget airline launches flight from london to us for £99

Skúli Mogensen, founder and CEO of WOW air

The one-way fare was announced today by Iceland's WOW Air and will run from London Gatwick to either Washington DC or Boston. The budget airline's flights will take off from London to Boston from 27th March 2015 and to Baltimore Washington International from 4th June, both involving a layover in its home capital of Reykjavik.

The fares, though, are only available for a limited time as an introductory offer for the route. Hand luggage (weighing less than 5kg) will be included, although £39 will be charged to check in a bag online, while seats with additional legroom will cost an extra £14. Nonetheless, the prices will still be significantly cheaper than the £500 and upwards fares available with other airlines.

"This is just the beginning of our plans to transform low-cost transatlantic flights," Skúli Mogensen, CEO of WOW air, told the press.

"We’re opening up the market to a whole new market of travellers who might previously not have been able to afford transatlantic travel."

Tourism - specifically, tourism fuelled by affordable flights - has traditionally proven a significant boost to European lifestyle destinations, such as Spain and Portugal. How will the improved accessibility of North America to a wider range of visitors affect its property market? Buy-to-let investors keen to take advantage of rising demand for rental accommodation will be feeling especially optimistic.