Fly Play hf.: Summer Load Factor Trending Up Year Over Year

Core Insights - PLAY airlines experienced a 16.5% reduction in capacity in March 2025, carrying 111,531 passengers compared to 142,918 in March 2024 [1] - The airline's load factor decreased to 82.0% from 88.1% year-over-year, influenced by a focus on leisure destinations and the timing of Easter [2] - PLAY Europe received its Air Operator Certificate (AOC) from Malta, marking a significant step in the airline's international expansion [4] Passenger and Operational Metrics - In March 2025, 30.7% of passengers were flying from Iceland, 37.5% were traveling to Iceland, and 31.8% were connecting passengers [3] - On-time performance dropped to 83.9% from 94.0% in the previous year, attributed to weather-related disruptions [3] Strategic Developments - PLAY Europe has secured a lease agreement with an Eastern European airline, aiming to operate aircraft outside of Iceland and recruit local pilots and crew [5] - The company plans to launch its first flight to Antalya, Turkey, in April 2025, and will also begin service to Faro, Portugal [6] Future Outlook - The outlook for summer 2025 is positive, with improved seat factors and strong forward bookings to and from Iceland, despite reduced capacity [7] - CEO Einar Örn Ólafsson emphasized the importance of the AOC for financial stability and operational predictability [8]