Summary
- Icelandic low-cost carrier PLAY has posted strong results for August 2023, with a 70% increase in passenger figures in comparison with the previous 12 months.
- The airline’s load factor also improved from 86.9% to 88.9%, showing sustainable growth management.
- PLAY’s routes to Barcelona, Prague, and Toronto had a powerful average load factor of over 95% last month, indicating high demand.
Icelandic low-cost carrier PLAY, which has now been operational for around two-and-a-quarter years, recently posted strong results for the month of August 2023. The red-liveried startup airline is in a considerably higher position it was than 12 months ago, with its passenger figures for the month having climbed by 70%.
By the numbers
Indeed, in comparison with the 108,622 passengers that PLAY carried in August 2022, it managed a powerful 184,926 this time around. Its load factor also went up during this era, from 86.9% to 88.9%, showing that the airline is continuous to administer its growth in a sustainable manner. CEO Birgir Jónsson stated that:
“August was a wonderful operational month for PLAY. (…) We’re getting near the tip of the summer season, however it is already clear that we might be very happy with our operational performance up to now this 12 months. We proceed to see many opportunities for future growth, and we have now subsequently begun planning our growth for the approaching years.”
Photo: Kevin Hackert/Shutterstock
In addition to being well-filled, PLAY’s flights last month were also generally moderately punctual, with an on-time performance figure of 90.1%. The carrier continued to leverage its convenient geographical location between North America and mainland Europe, with 42.9% of its passengers connecting from one flight to a different.
Certain routes performed exceptionally well
Of PLAY’s remaining passengers, the airline reports that 35% were traveling to Iceland, and 22.1% were leaving the country. These travelers may have been flying to and from a wide range of destinations, with some proving more popular than others. Indeed, PLAY notes that a handful exceeded the 90% mark when it comes to the typical load factor of those flights. Reflecting on this, Jónsson adds:
“It is sweet that we’re still seeing higher yields than last 12 months and a significantly higher load factor going into the more difficult winter months, and the demand going forward looks relatively robust in most markets. We’ll proceed to give attention to keeping our cost base as little as possible and being flexible in our network to adapt to this dynamic environment.”
Photo: Kevin Hackert/Shutterstock
One of the best of the perfect when it comes to average passenger load aspects were PLAY’s routes from its Reykjavík–Keflavík (KEF) hub to Barcelona (BCN), Prague (PRG), and Toronto (YYZ). Incredibly, these routes averaged greater than 95% last month.
A shiny future with some Q4 concerns
PLAY also saw growth when it comes to its ancillary revenues. This figure rose by 33% year-on-year, and the airline expects further growth on this area. Going forward, as alluded to by Jónsson earlier, PLAY has begun to plan for future growth by signing letters of intent to bring two more Airbus A320neo aircraft onboard in 2025.
PLAY also looks to be in a superb financial position as we enter the quieter autumn season. Indeed, with the carrier reporting higher yields and cargo aspects than last 12 months, it’s well-placed to make it through the less frantic shoulder months before the winter peak. That being said, the airline is wary of the impact that the rising cost of living could have on winter traffic, a priority facing airlines worldwide.
What do you make of PLAY’s August performance? Did you fly with the airline last month? Tell us your thoughts and experiences within the comments!