An Icelandic low-cost carrier is out to create some turbulence in the Canadian market with plans to offer deep-discount fares on transatlantic flights out of Toronto and Montreal. WOW air, founded by serial entrepreneur Skuli Mogensen, is launching two new routes from Montreal and Toronto to the Icelandic capital of Reykjavik, starting at $99 one-way. The upstart airline is the latest European-based company to offer low-cost fares on long-haul routes across the Atlantic as the continent’s budget carriers extend their territory outside home base.