PLAY says strategy shift is paying off as load factors improve
July 8, 2025
Icelandic carrier PLAY has said an increase in load factors in June are proof that its redefined business model – that focuses more on leisure and charter services in place of transit traffic – is paying off.
The ultra-low-cost-carrier reported a boost in efficiency following its strategic overhaul, with figures showing improved aircraft utilisation even as overall passenger numbers declined.
The airline flew 116,023 passengers last month, down from 173,109 in June 2024.
The decline was expected, according to the company, as it transitions away from a volume-based approach to a more focused model split between scheduled services in Iceland and aircraft leasing operations.
Despite fewer flights and reduced available seat kilometres (ASK), PLAY posted a higher load factor of 86.8% in June, compared with 86.0% in the same month last year.
The improvement was attributed to a more targeted network that now favours high-yield leisure routes in Southern Europe, a market that traditionally comes with lower connecting traffic.
The airline’s passenger mix in June was 41.9% departing from Iceland, 33.0% arriving into the country, and 25.1% travelling through Iceland as connecting passengers.
‘Positive impact of our strategic shift’
PLAY CEO Einar Örn Ólafsson said the latest results underline the effectiveness of the carrier’s restructured approach.
“Our performance in June reflects the positive impact of our strategic shift. By reducing excess capacity and focusing on targeted leisure routes, we are creating a stronger yield environment with fewer empty seats,” he said.
“This is a clear indication of better network planning and greater operational discipline. A higher load factor confirms that our streamlined operation is delivering results – leaner, more focused, and better aligned with demand.
“I’m especially proud of the PLAY team for the strong execution behind these results, including an impressive on-time performance of 88.8% in June. It’s a positive trend that reflects both our strategic clarity and operational commitment as we continue to restructure and control costs.”
PLAY Airlines fourth anniversary
The airline also relaunched seasonal flights to Aalborg in Denmark during June, with two weekly services scheduled through mid-August. PLAY now flies to three Danish destinations: Copenhagen, Aalborg and Billund.
The month also marked a milestone for the low-cost carrier, as it celebrated its fourth anniversary on 24 June.
The airline celebrated with onboard events, commemorating the first PLAY flight on the same day in 2021.
The carrier recently revealed it was giving up on the USA, confirming it will halt all flights to and from North America this October.
PLAY, which had already ceased operations between Keflavik and Washington Dulles in December 2024, has said it is pulling out of the US altogether.
