Fly Play hf.: Load Factor Rises to 90.3% in Leisure-Focused Network

Core Insights - PLAY experienced a significant decrease in passenger numbers, carrying 124,587 passengers in July 2025 compared to 187,835 in July 2024, primarily due to a strategic shift in fleet deployment and ACMI leasing agreements [1] - Despite the reduced capacity, the load factor improved to 90.3% from 88.4% in July 2024, indicating strong demand and effective capacity management, particularly in leisure destinations [2] - The operational performance remained solid with an on-time performance of 85.6%, slightly up from 85.4% in July 2024, showcasing the company's focus on operational efficiency [3] Fleet and Route Strategy - PLAY launched its inaugural flight to Valencia, marking its eighth destination in Spain, alongside existing routes to Alicante, Barcelona, Madrid, Malaga, Tenerife, Fuerteventura, and Gran Canaria [4] - The airline also offers flights to four destinations in Portugal: Lisbon, Porto, Faro, and Madeira, reinforcing its commitment to being a leading leisure airline from Iceland [4] Management Commentary - The CEO of PLAY highlighted the positive indicators from the core network strategy, noting the increase in load factor and strong demand despite the transitional period with part of the fleet in ACMI operations [5] - The CEO emphasized the team's efforts in achieving an on-time performance of 85.6% during a peak travel month, reflecting the company's focus on operational excellence [6]