PLAY Airlines Eyes Growth in Summer 2025
Icelandic low-cost carrier PLAY Airlines is forecasting a promising northern summer season in 2025 despite a slight drop in March passenger numbers, as the airline refocuses its strategy toward leisure and European point-to-point markets. In its latest traffic update, PLAY reported carrying 111,531 passengers in March 2025 compared to 142,918 in March 2024. The reduction is primarily due to a 16.5% decrease in overall capacity following the decision to lease one aircraft to GlobalX Airlines based in Miami, Florida. In addition, the airline has shifted its service from two North American destinations in order to better match seasonal demand, concentrating instead on expanding its European network and pursuing wet-leasing opportunities.
The load factor for March 2025 stood at 82.0%, a decrease from 88.1% the previous year. PLAY attributes this lower load factor to its strategic emphasis on seasonal leisure routes, particularly in Southern Europe where travel demand tends to peak during certain periods, as well as the shift in the timing of the Easter holiday from March 2024 to April 2025. Despite these adjustments, the airline remains upbeat about the summer season, citing strong forward bookings for traffic to and from Iceland. Although connecting traffic has trended lower due to reduced capacity, the direct market continues to show robust growth.
In the latest traffic breakdown for March 2025, 30.7% of passengers were flying from Iceland, 37.5% were traveling to Iceland, and 31.8% were connecting passengers. However, on-time performance dipped to 83.9% from 94.0% in March 2024, largely due to weather-related disruptions during the winter of 2024/25 in Iceland. Looking ahead, the airline expects an improved seat factor across all market segments during the summer of 2025.
PLAY Airlines has also taken a significant step in expanding its operational footprint with the launch of its new Maltese subsidiary, PLAY Europe. The new entity recently received its Air Operators Certificate from the Maltese aviation authority and is set to commence operations with the first of three Airbus A321neos transferred from the parent company in Iceland. These aircraft are intended for ACMI (Aircraft, Crew, Maintenance, Insurance) wet-lease arrangements, a strategy aimed at stabilizing financial operations, enhancing profitability, and ensuring more predictable revenue streams. While the airline has not named the first recipient of the leased aircraft, one unit has been spotted sporting a hybrid SkyUp Airlines livery, hinting at potential partnerships.
Adding to its summer 2025 expansion, PLAY will launch its inaugural scheduled flights to Antalya, Turkey, later in April, marking the first time a carrier will operate regular service between Iceland and Turkey. Additionally, the airline is set to begin service to Faro, Portugal, making it the fourth destination in the country, joining Lisbon, Porto, and Madeira. For the summer season, PLAY will operate an all-Airbus fleet comprising six A320neos and three A321neos, covering 39 destinations across 21 countries in Europe and North America.
CEO Einar Örn Ólafsson expressed enthusiasm over these strategic moves, emphasizing that securing the AOC in Malta is a major milestone that will contribute to more stable, resilient operations while delivering exceptional service to passengers during peak travel periods such as the upcoming Easter season.
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