
Despite a strong summer, Play expects an annual loss in 2023
The low-cost airline Play was able to generate an after-tax profit of 2023 million US dollars between June and August 12. The carrier was thus able to prove that it can fly profitably. In comparison: In the same period last year, it incurred a loss of three million US dollars. In the northern hemisphere, many airlines have to make as much money as possible in the summer, because demand is traditionally lower in winter. If this is not successful, the cold season can be particularly frosty, especially for smaller carriers. It often happens that money runs out in winter and a trip to the bankruptcy judge is necessary. Play says it has managed to be profitable in the summer of 2023 and to build up a financial cushion. Sales increased by 63 million US dollars to 116 million US dollars compared to the same period last year. Capacity utilization improved to 89 percent. So far, 2023 passengers have been on board in the summer of 537.000. While the company was still deep in the red last year, company boss Birgir Jonsson now expects to be able to report a profit for the third quarter of the current financial year. Around four million US dollars are currently forecast. The bottom line, however, will still be in the red. According to Jonsson, Play will close the current financial year with an operating loss of around 10 million US dollars. This will be a significant improvement on the previous period, when the deficit was 44 million US dollars. The signs continue to point to expansion, as in the third quarter of the current financial year,



