Fly Play hf. reported strong operations in Q2 2025, with higher TRASK and lower adjusted CASK. They carried 361k passengers, down from 442k in 2024, as they transition to a new hybrid business model. Operating revenue was USD 72.1 million, TRASK increased to 5.2 US cents, and net loss was USD -15.3 million.

CEO Einar Örn Ólafsson stated that PLAY is shifting towards more profitable leisure destinations and ACMI operations. They have secured new funding of USD 20 million, supporting their strategic transformation. Despite challenges like FX headwinds, PLAY remains focused on executing with discipline and diversifying their revenue base.

Traffic data shows PLAY carried 361k passengers in Q2 2025, down from 442k in 2024. Load factor was 83.2%, reflecting strategic changes. Customer satisfaction rose, with a Net Promoter Score increasing by 74%. Total revenue was USD 72.1 million, TRASK increased to 5.2 US cents, and EBIT was negative USD 9.2 million.

PLAY’s transition to a point-to-point network will be completed by October, with four aircraft operating out of Iceland. Lease agreements are in place for five of the remaining six aircraft. Forward unit revenue remains strong, and Q3 net income is expected to be in line with last year, with a projected return to profitability in 2026.

Read more at GlobeNewswire: Fly Play hf.: Financial Results Q2 2025