improved forward bookings and yet again more punctual
Play continues to gain market share in Iceland, with a 13% year-over-year increase in passengers flying from Iceland—58 thousand in July 2024 compared to 51 thousand in July 2023.
Play's on-time performance was 85.4% in July 2024, compared to 80.2% in July 2023.
"It is encouraging to see our number of passengers travelling from Iceland, our local market, rise by seven thousand year-over-year. We aim to have a wide selection of leisure destinations that people from Iceland want to visit, and we are seeing a good return from that decision. We feel that people in Iceland are happy with our services and the numbers reflect that.
As we reported in our Q2 result, the VIA market this summer has been soft due to growth in seat capacity on direct services across the Atlantic. This is reflected in our July traffic numbers. However, forward bookings are currently ahead of last year giving us the encouraging sign that the trend will reverse in the coming months. Also, we have adjusted our route network by reducing our seat capacity to/from North America for the fall and winter to reflect fluctuating demand better, and simultaneously, we are adding more seats to existing and new leisure markets in Europe and Africa, which have yielded higher returns for Play. This demonstrates the flexibility of our route network, allowing us to adjust based on demand. This adaptability would not have been possible without my outstanding colleagues at Play, who once again made Play the most punctual of the leading airlines operating flights from Keflavík International Airport. This significantly aids our operations and ensures our passengers enjoy timely and pleasant flights," says Einar Örn Ólafsson, Play's CEO.
Nasdaq Iceland has approved the application of Fly Play hf. for admission of its shares to trading on the Nasdaq Iceland Main Market. The Company’s shares will be admitted to trading on the Main Market on August 8, 2024 and correspondingly removed from trading on the First North Growth Market after the market closes on 7 August, 2024.
The prospectus, which is dated August 1, 2024, has been approved by the Financial Supervisory Authority of the Central Bank of Iceland. The prospectus is written in English, is accessible on the Company‘s website and is attached to this announcement.
Arctica Finance acts as the manager of the admission to trading of the Company’s shares on the Main Market of Nasdaq Iceland.
