PLAY sees robust revenue growth at end of Q1 2023

During its Q1 2023 financial report, PLAY has reported robust revenues, strong growth, and the highest ticket sales on record.

The Icelandic low-fare airline saw revenues of USD 32.7 million compared to USD 9.6 million in Q1 2022, and ongoing growth in ancillary revenues. Its bundle launch in February resulted in a 25% increase in average ancillary revenue per passenger.

PLAY has also enjoyed record high ticket sales, leading to an increase in forward unit revenue.

Forward bookings remain strong, with significantly improved booking status compared to the same period last year. It also welcomed a fourfold increase in passenger numbers since Q1 2022, and anticipates carrying 1.5 to 1.7 million passengers in 2023.

Birgir Jónsson, CEO, commented: “We are now entering the most exciting and fun times of the year for us at PLAY, when we welcome around 200 new colleagues to the team, put 4 brand-new aircraft into operation, and launch many new destinations. The market is receiving us with open arms, as demonstrated by the fact that we see our average revenue growing even as we have nearly doubled our capacity. […] We are confident in our ability to deliver strong results and look forward to building on this momentum into the future.””

As of 2023, the airline flies to 37 destinations, including thirteen new ones with its Airbus A320neo family aircraft. It has also added more capacity to existing popular leisure destinations in Southern Europe due to high demand, with year-round services to Lisbon, Barcelona and Madrid and the service to Athens has been extended.

New leisure destination in Southern Europe to be announced soon for winter 2023-24, with capacity to other destinations (like Tenerife and Alicante) to be extended.