PLAY Airlines has released its March 2025 performance report, striking a tone of strategic confidence amid change.
While passenger numbers dipped to 111,531 from last year’s 142,918—reflecting a planned capacity cut—the airline shows adaptability.
With a leased aircraft, a new Maltese subsidiary, and a leisure-focused network shift, PLAY balances challenges like weather and Easter’s timing with optimism for growth. The report suggests a sense of control and forward momentum.
PLAY Airlines March Performance
PLAY Airlines transported 111,531 passengers in March 2025, a drop from 142,918 the previous year. This decrease reflects a deliberate 16.5% cut in capacity. The airline leased one aircraft to GlobalX in Miami and fine-tuned its network to align with seasonal demand. These moves, announced earlier, aim to boost efficiency.
The load factor for March 2025 reached 82.0%, down from 88.1% in 2024. This shift ties into PLAY’s focus on leisure routes in Southern Europe.
These destinations offer higher yields but rely on point-to-point travel without connecting (VIA) passengers, resulting in a lower load factor. Easter’s timing also played a role—it fell in April 2025, unlike March the year before.
Breaking down passenger numbers, 30.7% flew from Iceland, 37.5% traveled to Iceland, and 31.8% were connecting passengers. Meanwhile, on-time performance dipped to 83.9% from 94.0% last year. Weather challenges in Iceland largely explain this decline.
PLAY Europe Gains Malta AOC
A big win came for PLAY Europe, a Fly Play hf. subsidiary, in March. It earned its Air Operator Certificate (AOC) from Malta’s Civil Aviation Directorate. This milestone fuels the airline’s global ambitions.
Born from a restructuring plan unveiled last October, PLAY Europe will operate leased aircraft outside Iceland. It remains distinct from the PLAY brand’s Icelandic operations.
The first aircraft, an Airbus A321neo, is registered and ready under the Maltese AOC. PLAY Europe also sealed a lease deal with an Eastern European airline.
This aircraft will operate entirely beyond Iceland’s borders. Local pilots and senior cabin crew will join through PLAY Europe, while Fly Play hf. keeps its low-cost focus in Keflavík. This setup promises stronger profits, stability, and growth.
New Routes on the Horizon
April 2025 brings fresh destinations. PLAY will launch its first-ever scheduled flights between Iceland and Antalya, Turkey—a historic link.
The same month, Faro, Portugal, joins the roster as PLAY’s fourth Portuguese stop, alongside Lisbon, Porto, and Madeira. These additions highlight PLAY’s leisure market push.
Summer 2025: A Bright Forecast
Looking ahead, summer 2025 shows promise. The seat factor is up across all segments compared to last year. Traffic to and from Iceland stands out, with robust bookings despite fewer seats. VIA traffic, however, lags behind 2024 due to capacity cuts and a pivot to Iceland and leisure routes.
CEO Einar Örn Ólafsson was upbeat about developments. “The Maltese AOC for PLAY Europe marks a turning point. It’s a vital step toward financial stability. This allows us to run part of our fleet for charter or ACMI clients, making our business steadier and more profitable.”
“I’m deeply grateful to our team for their hard work in securing this. As Easter nears, we’re ready to serve our holiday travelers with top-notch care.”
PLAY Airlines is adapting smartly. March’s numbers reflect strategic choices, not setbacks. With PLAY Europe’s launch, new routes, and a solid summer outlook, the airline is poised for resilience and growth. The focus on leisure and Iceland, paired with operational tweaks, sets a clear path forward.
Click the banner to subscribe to our weekly newsleter.
Click the photo to join our WhatsApp channel so then you can stay up to date with everything going on in the aviation industry!
