Fly Play hf.: Record October Load Factor and Rising Unit Revenue Year-on-Year

PLAY airlines transported 138,155 passengers in October 2024, down from 154,479 in October the previous year. This aligns with PLAY's strategy of gradually reducing its transatlantic capacity, which is reflected in the October traffic figures. In line with this shift, the airline achieved an 85.3% load factor in October 2024—the highest for the month of October in PLAY's history—up from 83% last year.

PLAY's on-time performance also improved, reaching 91.4% in October 2024 compared to 85.8% last year. Among the passengers, 33.4% were traveling from Iceland, 39.1% to Iceland, and 27.5% were connecting passengers (VIA). This reflects PLAY's increased focus on its local market, with a 5% growth in passengers flying from Iceland, rising from 43,872 in October 2023 to 46,143 in October 2024. Passengers flying to Iceland increased by 3%, from 52,368 in October 2023 to 54,018 in October 2024.

PLAY has expanded its capacity to leisure destinations in Southern Europe. Despite a 17% increase in seats to these destinations, they continue to perform very well. In September, PLAY's unit revenue growth inflected positive year-on-year for the first time since spring this year. We continue to see further positive unit revenue momentum in October, and the outlook for the rest of this year and into 2025 remains positive.

Ancillary revenue per passenger also grew year-on-year, increasing by 7% compared to October last year.

PLAY connects Antalya to Iceland

PLAY introduced flights to Antalya, Turkey, in October, with services starting on April 15, 2025, operating weekly flights until early June, and resuming in September through November. October also saw PLAY's inaugural flight to Marrakech, marking Iceland's first scheduled route to Africa, along with the airline's inaugural flights to Madeira and Cardiff.

PLAY expanded its partnership network with Dohop and new airline partner easyJet, adding more than 350 city pair connections, making it easier for travelers to book connected flights across Europe and beyond.

Einar Örn Ólafsson, PLAY´s CEO:

”We are already seeing the positive impact of our strategic focus on European leisure destinations. For the second month in a row, unit revenue has increased year-on-year, and despite a capacity increase to sunny destinations, performance remains strong. October set a record high load factor for the month, and the outlook through the end of the year and onwards into 2025 is positive.

Our on-time performance was exceptional in October, underscoring PLAY as the most punctual major airline at Keflavík International Airport. This achievement is thanks to the dedication of my PLAY colleagues, who ensure a safe, reliable flight experience for our passengers.”

Attachment

• Traffic Report October 2024