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| Founded | July 2019; 6 years ago (2019-07) | ||||||
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| Commenced operations | 24 June 2021; 4 years ago (2021-06-24) | ||||||
| Ceased operations | 29 September 2025 (2025-09-29)[2] | ||||||
| AOC # |
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| Hubs | Keflavík International Airport | ||||||
| Subsidiaries | Play Europe[3] | ||||||
| Fleet size | 10 (including subsidiary) | ||||||
| Destinations | 34 | ||||||
| Traded as | Nasdaq Iceland: PLAY | ||||||
| Headquarters | Reykjavík, Iceland | ||||||
| Key people | |||||||
| Employees | 572 (July 2024)[6] | ||||||
| Website | flyplay.com at theWayback Machine (archived 29 September 2025) | ||||||
Fly Playhf.,doing business asPLAY, was[2] an Icelandiclow-cost airline headquartered in the country's capital ofReykjavík.[7] It operated a fleet ofAirbus A320neo family aircraft with its hub atKeflavík International Airport.[8]
In July 2019, two formerWow Air executives, Arnar Már Magnússon and Sveinn Ingi Steinþórsson, announced the formation of a new airline, tentatively namedWAB air ("We Are Back"). Avianta Capital, an Irish investment fund owned by Aislinn Whittley-Ryan (daughter of Michael Kell Ryan, one of the founders ofRyanair), held a 75% stake; the remainder was held by Neo, a company founded by Arnar Már and Sveinn Ingi. The company aimed to operate six aircraft to 14 destinations across Europe and the United States, with a target of one million passengers in the first year. The new company applied for anair operator's certificate (AOC) from theIcelandic Transport Authority.[9]
In November 2019, WAB air rebranded asPLAY, and the hiring of operating staff was initiated. The airline announced that it would leaseAirbus A321s configured with 200 passenger seats and would start flights with two aircraft to six European destinations in the winter of 2019–2020. The airline'slivery was also planned to be red.[8][10] By late 2019, Play planned to initially serve six destinations in Europe:Alicante,Tenerife,London,Paris,Copenhagen andBerlin.[11] There were plans to introduce flights to fourNorth American destinations in the spring of 2020.[10]Play originally planned to start operations with twoAirbus A321 aircraft[10] configured for 200 passenger seats and add four more aircraft by the summer of 2020. By November 2020, the company had received alanding permit for only three airports:Gatwick Airport,London Stansted Airport andDublin Airport.[12]
In April 2021, it was announced that Play had completed apre-IPOprivate placement round with a total transaction size of six billionIcelandic króna (U.S.$47 million) in new equity managed byArctica Finance.[13] Participating investors included Icelandic investment companyStodir and two Icelandicpension funds.[14] It was also confirmed that Birgir Jónsson would replace Arnar Már Magnússon as CEO. In May 2021, the airline announced the registration of its AOC, as well as the acquisition of its first aircraft, anAirbus A321neo.[15] Soon after, the airline began ticket sales for its first flights, the operations of which launched with its inaugural flight fromKeflavík International Airport toLondon Stansted Airport on 24 June 2021. On the same day as its maiden flight, Play launched aninitial public offering (IPO), seeking to raise at least 3.9–4.3 billion Icelandic króna (U.S. $32 to 35 million), after which its shares would be traded onNasdaq First North Growth Market Iceland.[16] The IPO concluded on 25 June 2021 with an eight-fold oversubscription in the offering, with total subscriptions received for 33.8 billionIcelandic króna (U.S. $274 million).[17][18]
In August 2021, Play applied to theUnited States Department of Transportation for the operation of flights betweenKeflavík and the U.S. east coast starting in the summer of 2022.[19] Its application was subsequently approved and the airline on 16 December 2021 announced its first services to the U.S. with flights toBaltimore andBoston, launching in April and May 2022 respectively.[20][21] In January 2023, Play announced it would launch its first destination in Canada, with flights between Keflavík andJohn C. Munro Hamilton International Airport in Ontario, launching in June 2023.[22]
In March 2024, Play announced its first African destination with service toMarrakesh Menara Airport to launch in October 2024.[23] Later that month, Einar Örn Ólafsson succeeded Birgir Jónsson as the airline's CEO.[24] In October 2024, Play announced its first Asian destination with service toAntalya Airport to launch in April 2025.[25]
The airline announced a planned transition in its business model in late 2024, including the establishment of an AOC inMalta, and refocusing from connecting traffic between Europe and North America, to traffic between Iceland and European leisure destinations amidst the airline's weakening financial results.[26][27] This resulted in the termination of some destinations on both continents in 2025,[28] alongside its previously-announced establishment of leisure destinations in Europe, western Africa, and western Asia. Its Maltese AOC was issued on 27 March 2025, to its subsidiary Play Europe.[3] Through the subsidiary, the airline announced it would firstwet lease three aircraft through 2027 beginning in the spring of 2025.[29]
Further changes to Play's business model were proposed in June 2025, including transitioning to aprivately held company and ending its remaining routes to the U.S. by the end of October 2025.[30] In addition, it would dedicate three more aircraft to wet lease operations, totaling six, with the remaining four aircraft to be retained for Iceland-based scheduled operations. Play would also surrender its Icelandic AOC and become avirtual airline in Iceland, retaining its Maltese AOC held by its Play Europe subsidiary for operations.[31] The proposed transition to a private holding however was later dropped.[32]
On 29 September 2025, the airline ceased operations, immediately canceling all flights. About 400 employees of the airline lost their job. In a statement, the management informed passengers that "all flights of the company have been cancelled"[2][33] and recommended that affected passengers searched for alternative carriers offering special 'rescue fares'.[34]
The key trends of Play were (as at the financial year ending December 31):[35]
| Turnover (US$m) | Profit after tax (US$m) | Number of employees | Number of passengers (m) | Passenger load factor (%) | Number of served destinations | Number of aircraft | Sources | |
|---|---|---|---|---|---|---|---|---|
| 2021 | 16.4 | −22.5 | 150 | 0.10 | 53 | 25 | 3 | [36] |
| 2022 | 139 | −45.5 | 323 | 0.78 | 80 | 25 | 6 | [37] |
| 2023 | 281 | −35.2 | 511 | 1.5 | 83 | 38 | 10 | [38] |
| 2024 | 292 | −66 | 453 | 1.6 | 85.3 | 42 | 10 | [39] |
Play operated to destinations in Africa, Asia, Europe, and North America from its hub atKeflavík International Airport.[40]
Play hadvirtual interlining agreements with the following airlines:[41]
As of September 29, 2025, when the airline ceased operations, Play operated an all-Airbus A320neo fleet composed of the following aircraft:[42]
| Aircraft | In service | Orders | Passengers | Notes |
|---|---|---|---|---|
| Airbus A320neo | 6 | — | 174 | |
| 180 | ||||
| Total | 6 | — | ||
Play's initial fleet consisted of three Airbus A321neo aircraft, all of which were formerly operated by defunct Mexican airlineInterjet.[15] In September 2021, the airline announced its first fleet expansion with orders for three Airbus A320neos and a fourth A321neo, adding to its existing fleet of three A321neos, with the aircraft to be delivered between late 2022 and early 2023.[43] The airline also signed aletter of intent in August to receive two A320neos by early 2022, prior to any of the other aircraft that were already on order,[44] with the agreement subsequently signed as a firm order in November 2021.[45] In early 2022, Play specified that an Airbus A321neo it was due to receive in anticipation of its recently announced Orlando route would be the A321LR variant, for delivery during May 2022, and that it planned to operate a total of ten aircraft by early 2023.[46][47] In May 2022, Play decided to halt delivery of its Airbus A321LR and cancel the planned Orlando route due to rising fuel costs. The airline instead replaced the A321LR with an A320neo, thereby planning to operate a fleet of three A320neos and three A321neos for summer 2022.[48] In early 2023, the airline's A321neos began seating reconfigurations to increase their capacity from 192 to 214.[47][49]
Play airlines Suðurlandsbraut 14 Reykjavik 108 Iceland
Media related toPlay (airline) at Wikimedia Commons
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