Icelandic low-cost carrier PLAY continued to be loss-making in the second quarter of the year ahead of a big boost in services for the summer season.
While revenue increased year on year from $9.6 million to $32.5 million, the company also reported a loss of $14.4 million in three months.
The increased revenue was attributed to enhanced activity, expansion of flight corridors and a strong flow of bookings.
The airline expects to make an operational profit later this year as unit costs fall, with the exception of fuel.
PLAY became operational in November 2019 just before the pandemic shut down all international travel, the carrier now operates six Airbus A320neo and A321neo aircraft with four more due to enter service in early 2023.
The airline carried 182,000 passengers between April and June, with a load factor of 74.8%.
The positive trend continued into July with 110,000 passengers flown, mainly due to the introduction of transatlantic routes between the US and Europe. The booking status for autumn and winter “remain good”.
PLAY operates low-cost flights from Dublin to Reykjavik and is opening a new route from Dublin to Virginia in April 2023.
