PLAY Airlines concluded 2024 with a mixed bag of results. Passenger numbers declined in December compared to the previous year.
However, a strategic focus on leisure travel and network optimization yielded positive outcomes.
December 2024 Performance
Passenger Number Decrease
The airline carried 98,863 passengers in December 2024. This represented an 18% decrease from the 114,265 passengers transported in the same month of 2023.
This reduction stemmed from a deliberate decision to lease one of its aircraft to GlobalX and adjust its route network to better align with seasonal demand.
This proactive approach, while leading to lower passenger volumes, ultimately proved beneficial.
Load Factor Increase
Despite the reduced capacity, PLAY achieved a significant improvement in its load factor. In December 2024, the airline boasted a load factor of 78.9%.
This was a notable increase compared to the 76.2% achieved in the same period of 2023. This positive trend extended to the full year, with PLAY achieving a load factor of 85.3% in 2024, surpassing the 83.4% recorded in 2023.

Strategic Shift Towards Leisure Travel
This success can be attributed to PLAY’s strategic shift towards leisure destinations. The airline recognized the growing demand for leisure travel and proactively adjusted its route network to capitalize on this trend.
The share of leisure destinations within PLAY’s network expanded from 16% in December 2023 to 22% in 2024.
While leisure travel often presents challenges such as lower load factors due to point-to-point travel and seasonal demand fluctuations, PLAY effectively mitigated these risks by optimizing its operations.
Revenue Gains from Strategy Shift
This strategic focus on leisure travel translated into significant gains in unit revenue. By capitalizing on seasonal demand and prioritizing high-yield routes, PLAY achieved consistent growth in unit revenue throughout the year.
December 2024 marked the fourth consecutive month of positive year-on-year improvement in unit revenue, a testament to the effectiveness of the airline’s strategic shift.
While passenger numbers from and to Iceland experienced year-over-year growth, the overall reduction in capacity impacted PLAY’s passenger volumes. However, the airline demonstrated its resilience by effectively managing its operations and achieving positive financial results.

OTP Improvements
Furthermore, PLAY continued to enhance its operational performance. The airline’s on-time performance (OTP) in December 2024 reached 63.5%. This was an improvement over the 59% achieved in the same period of 2023.
Despite the inherent challenges of operating in Icelandic weather conditions, PLAY achieved an impressive OTP of 87.5% for the entire year of 2024, surpassing the 83.2% recorded in 2023.
Looking Ahead
Looking ahead, PLAY is poised for further growth in 2025. The airline is expanding its flight schedule to popular sunny destinations. This will see increased flights to Alicante, Spain, and Madrid, as well as the introduction of summer flights to Madeira.
These additions to the network are expected to further enhance the airline’s appeal to leisure travelers and contribute to continued growth in passenger numbers and revenue.
Overall, PLAY Airlines demonstrated its ability to navigate a dynamic market environment by effectively adapting its strategy and optimizing its operations.
The airline’s focus on leisure travel, coupled with its commitment to operational excellence, has positioned PLAY for continued success in the years to come.

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