The low-cost airline Play was able to make a profit after taxes of $2023 million between June and August 12. This allowed the carrier to prove that it is possible to fly profitably. In comparison: In the same period last year, a loss of three million US dollars was incurred.

In the northern hemisphere, many airlines have to make as much money as possible in the summer because demand is traditionally lower in the winter. If this doesn't work, the cold season can be particularly frosty, especially for smaller carriers. It happens again and again that money runs out in winter and you have to go to the insolvency judge. According to Play, it managed to be profitable in the summer of 2023 and was able to build up a financial cushion.

Sales rose $63 million to $116 million from 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. The current forecast is around four million US dollars.

The bottom line, however, will continue to be in the red. According to Jonsson, Play will end the current fiscal year with an operating loss of around $10 million. This will be a significant improvement compared to the previous period, where the deficit was $44 million.

The signs continue to point to expansion, as two more aircraft from the A2025neo series are to be added to the fleet by 320. This increases to 12 units. The aim for the coming year is 1,8 million passengers and a turnover of 340 million US dollars.