Workflow
Fly Play hf.: Local traffic increasing and improved unit revenue

Core Insights - PLAY airlines experienced an 11% reduction in capacity in January 2025, carrying 87,415 passengers compared to 99,704 in January 2024, due to leasing an aircraft and adjusting its network to seasonal demand [1] - The airline's load factor decreased to 72.9% from 74.8% year-on-year, attributed to a strategic focus on leisure destinations, which increased from 21% to 26% of its network [2] - PLAY's unit revenue has shown consistent growth for five consecutive months, indicating a positive outlook for financial performance in 2025 [3] Passenger Trends - In January 2025, 32.2% of passengers traveled from Iceland, 37.6% to Iceland, and 30.1% were connecting passengers, with growth in both inbound and outbound travelers from Iceland [4] - The number of passengers traveling from Iceland increased from 27,000 in January 2024 to 28,000 in January 2025, while those traveling to Iceland rose from 31,000 to nearly 33,000 [4] Operational Performance - PLAY's on-time performance improved to 79.2% in January 2025, up from 78.1% in January 2024, despite challenging winter weather conditions [5][9] Route Expansion - The airline has announced a flight schedule extending into 2026, with new routes to popular U.S. destinations including Boston, Baltimore, Washington DC, and New York, as well as various European cities [6][7] - The European destinations include sunny locations such as Tenerife, Las Palmas, and Antalya, along with major cities like Copenhagen, Barcelona, and London [7] Management Insights - The CEO of PLAY highlighted the increasing share of Icelanders choosing the airline for sunny destinations and the growing brand awareness in foreign markets [8] - The commitment to improving on-time performance and enhancing passenger satisfaction was emphasized, particularly during the operationally challenging winter months [9][10]