Icelandic low-cost carrier PLAY Airlines is optimistic about a robust summer season in 2025, following the release of its latest traffic data for March. The airline, which recently expanded with a Maltese subsidiary and a shift in focus towards European flights, is buoyed by strategic changes including wet-leasing aircraft and growing its European point-to-point network.
PLAY carried 111,531 passengers in March 2025, a decrease from 142,918 in the same month the previous year. This drop is attributed to a 16.5% reduction in overall capacity, primarily due to the leasing of one aircraft to GlobalX Airlines, based in Miami. Over the past year, the carrier has also adjusted its route network, scaling back services to North America while concentrating on expanding its European operations.
The airline’s load factor for March 2025 stood at 82%, down from 88.1% in March 2024. The company explains this decline as a result of its refocus on seasonal leisure routes, particularly in Southern Europe, where travel peaks are more pronounced. Additionally, the timing of Easter, which fell in April 2025 compared to March 2024, also played a role in the lower load factor.
“Leisure markets typically operate on a point-to-point basis without connecting traffic, leading to a lower load factor,” the airline noted in a statement. “The shift in Easter dates also impacted traffic patterns.”
A breakdown of March’s traffic figures revealed that 30.7% of passengers were flying from Iceland, 37.5% were traveling to Iceland, and 31.8% were connecting passengers. PLAY’s on-time performance for March 2025 was 83.9%, a notable decrease from 94.0% in March 2024. The drop was attributed to weather-related disruptions in Iceland during the winter season.
Despite these challenges, the outlook for the summer of 2025 is positive. PLAY expects to see an improved seat factor across all market segments compared to 2024. Forward bookings to and from Iceland remain strong, with more seats sold year-over-year, even with a reduced capacity. However, connecting traffic is trending lower due to the airline’s strategic shift toward Iceland and leisure markets.
PLAY also announced significant progress with its new Maltese subsidiary, PLAY Europe, which has received its Air Operators Certificate (AOC) from the Maltese aviation authority. The subsidiary will begin operations with three Airbus A321neos transferred from PLAY’s Icelandic fleet. These aircraft will be leased out under ACMI (Aircraft, Crew, Maintenance, Insurance) arrangements. Though the airline declined to name the recipient of the first A321neo, the aircraft, 9H-PEA, has been seen sporting a hybrid SkyUp Airlines livery.
“Receiving the AOC in Malta is a major milestone for PLAY,” said Einar Örn Ólafsson, CEO of PLAY. “It allows us to operate part of our fleet as a charter or ACMI business, making our operations more predictable and financially stable.” He also expressed gratitude for the team’s dedication in securing the certification.
Looking ahead, PLAY will expand its European offerings in summer 2025, launching new routes to Antalya, Turkey, and Faro, Portugal. The Antalya service, set to begin in April 2025, marks the first scheduled flights between Iceland and Turkey. Faro will become the airline’s fourth Portuguese destination, joining Lisbon, Porto, and Madeira.
For the summer season, PLAY will operate an all-Airbus fleet, including six A320neos and three A321neos, serving 39 destinations across 21 countries in Europe and North America.
