Back in December, Iceland’s new low cost carrier announced its first two routes to the United States, to Baltimore and Boston. Then at the beginning of February PLAY announced its third route, to the New York area. Now the airline has announced its fourth destination in the United States — Orlando.
Continue reading: Iceland’s PLAY Launching Flights To United States
Share your questions, experiences, and thoughts below.
Seems like guaranteed failure. I just wait for icelandair fare sales. 3 business class round trip (more like domestic business class which is fine) for $2700.
That and a nice chunk of Alaska miles. Works for me
I don't see what's the point of a low cost carrier that has the base fare value higher than legacy fares all in.
They should try to capture at least a little business traffic, such as IBM in Armonk, NY, Poughkeepsie, and even Albany, NY. At least try.
I love the insistence of airlines trying to make New York Stewart work - it's never going to work
I have flown international from Stewart several times and the pricing draws from the tri-state area. That said IF any of them are going to be successful they need to find a way to get reasonable train service and keep fares low
Trenton would work better if the train connection was restored to NYC. Pulls from PHL market as well as EWR
What the... You pay 100 USD more than Iberia, plus all the bag fees that apparently for a carry-on only are 200 USD roundtrip, and end up 80 km north of NYC at some random airfield? THe guys at Play must be real optimists if they belive this will work.
Currently, Finnair is selling HEL-JFK roundtirp for 450 USD. Nonstop. For a Plat, that's including a carry-on, a checked bag, lounge access and a (poor) inflight meal + wine and even a cocktail.
Former NYC type here. I never understood what Stewart was supposed to be for regarding passenger flights.
They actually have quite attractive fares from European cities to Iceland. Where others charge 2x as much or don't offer service at all.
SWF is in the middle of nowhere, but the attraction, I think, is that it's a 1 hr or so drive from many parts of the NY metro area (Westchester, Connecticut, etc). Many people would rather fly out of a small rural/suburban airport that is easy to get to on a fast-moving highway than have to schlep through NYC traffic to get to LGA or JFK, even if the drive is the same length. I would seriously consider it. Too bad WOW has mispriced their fares, hopefully that will change.
Pricing is a disaster. Legacies have no problem matching LCCs 1-for-1 in economy class to maintain share. Obviously AA is matching someone else, probably TAP, in that LIS example, and it's not what DFW would consider the ideal fare to be; nonetheless, how can Play not be-at the very least- competitive with TP/AA? It's amateur hour in Iceland.
The MCO to KEF flights arent even cheap, kinda disappointing but they may lower their fares if icelandair does.
Nobody is going to mention the obvious? The appalling paint job and logo/branding.
How long until the article that says "Play cuts North American routes" ? 6 months ? 1 year ?
Hook, line & sinker! Thanks for playing, Eskimo. I knew it would be you or Endre! LOL
I think they will succeed. There should be a law about major carriers lowering prices to unprofitable levels in order to drive out new airlines. Then they raise the prices.
Support the new airline and especially those living within 70 miles of Stewart newburgh .. your options are good with play air.
PLAY Air of Iceland on the brink?
Here is a google translated article in Icelandic regarding Play having to issue more shares to stay solvent. The stock price has dropped like a rock after hitting 28.30 ISK in October 2021 and is trading at 0.76 ISK today. Investors are unhappy and it is not certain there will be any willing large scale buyers of its stock - if airline even attempts a share offering soon. In the meantime the airline has drastically cut routes (in North America alone they have axed Toronto/Hamilton and Washington Dulles completely and gone on to reduce capacity and frequency to Boston, Baltimore and NY Stewart) and leasing idle aircraft to other operators to preserve cash. Major cuts are coming to the European network as well it looks like.
Play tapaði 9 milljörðum – úti.loka ekki hluta.fjáraukningu
Play lost $66 million, or ISK 9.2 billion, in 2024, compared to a loss of $35 million in the previous year. The airline lost $39.8 million, or ISK 5.6 billion, in the fourth quarter, compared to a loss of $17.2 million in the same period the previous year.
Play's liquidity position at the end of 2024 was $23.6 million, or ISK 3.3 billion, compared to $21.6 million at the end of 2023. The company's equity was negative by $33.1 million, or ISK 4.6 billion at the end of 2024.
“The liquidity position has strengthened since the same time last year and there has been significant progress in Play's operating outlook. However, it cannot be ruled out that market conditions will change and that an increase in share capital will be considered,” says Einar Örn Ólafsson, CEO of Play, in the airline’s financial statement.
It is noted that the company’s total loss in 2024 was much higher than the operating loss. This is due to a write-off of a tax credit of $24.1 million “which is only of an accounting nature and has no impact on the company’s liquidity position.” It also says that this is a "cautious approach" on the part of Play.
The company's EBIT result was negative by $ 30.5 million in 2024, or 4.3 billion ISK.
Clear signs that the new model is delivering results
Play's revenue increased by 4% year-on-year and was $ 292 million in 2024, or almost 41 billion ISK.
In Play's financial statement, the airline says that there are clear signs in the fourth quarter results that the new business model that the company announced in the fall is starting to deliver improved results. The change in question means that it is now placing increased emphasis on service to sunny destinations from Iceland, but on the other hand, significantly reduced connecting flight activities between North America and Europe.
Play announces a "fundamental change" in the business model
It is reported that passenger revenue per available seat kilometer (RASK) in the fourth quarter increased by 17% year-on-year, due to higher average prices and better seat utilization.
The company's EBIT performance in the fourth quarter improved by $4.7 million year-on-year and was negative by $15.3 million. The improved EBIT performance in the quarter is attributed to higher average revenues, better seat utilization and cost-cutting measures.
Lease three aircraft
It is reported that an agreement has been reached to lease three aircraft starting next spring until the end of 2027. The company says these lease agreements ensure a high level of predictability in operations.
"The project will deliver Play profitability in line with what the company has previously indicated and brings the company very stable and positive operations from this part of the business."
Strategy for cost-cutting measures
Play says that in 2025 it will strive to reduce costs and has already taken measures that aim to deliver 15 – 20% cost-savings in the superstructure, including a smaller route network and fewer technological innovations.
Play will also have better contracts with suppliers and operations in Vilnius will also reduce costs.