PLAY Airlines reports strong performance in February 2024 with increased passenger numbers and on-time performance

PLAY Airlines, the Icelandic carrier, has experienced notable success in February 2024, showcasing robust growth in passenger numbers, improved load factors, and exceptional on-time performance.

Key Highlights:

1. Passenger Numbers and Load Factor:
   • PLAY carried 106,042 passengers in February 2024, reflecting a remarkable 66% increase compared to the same month in the previous year (63,949 passengers).
   • The load factor for February reached 81%, surpassing last year’s figure of 76.9%. This increase is indicative of recovering demand, rebounding after a decline caused by inaccurate global news coverage of seismic activity in Reykjanes peninsula last fall.
   • Geographical breakdown of passengers: 27.9% from Iceland, 40% to Iceland, and 32.1% connecting passengers (VIA).
   • Notable load factor increases in key markets: North America from 67% (February 2023) to 78% (February 2024), Paris and Barcelona exceeding 90%, and Alicante around 90%.
2. On-Time Performance:
   • Remarkable on-time performance, with 90% of PLAY’s flights in February arriving on time.
   • The on-time performance for the year 2024 to date is reported at an impressive 84.1%.
3. New Destinations and Record Sales:
   • PLAY has introduced scheduled flights to Madeira (Portugal) and Marrakech (Morocco), with services starting on October 15 and October 17, respectively.
   • Additional destinations include Vilnius (Lithuania) and Split (Croatia).
   • February witnessed strong sales, including a record sales week, contributing to the highest daily revenue in one month in PLAY’s history.
   • PLAY reports increased demand, robust forward bookings for the year, and positive trends in load factors and yields for the upcoming summer season.
4. Financial Milestone:
   • PLAY achieved a significant financing milestone by securing share subscription commitments totalling ISK 4000 million (approximately 30 million USD) from existing and new shareholders.
   • The financing, subject to approval at the annual general meeting in March, positions PLAY for its next growth phase.

Birgir Jónsson, CEO of PLAY, expressed satisfaction with the positive trends, citing the return of demand to the market and the airline’s readiness for the next growth phase after securing substantial financing.

PLAY remains focused on keeping costs low, growing revenue, and providing passengers with quality service at an attractive price.

Note: VIA refers to connecting passengers.