NASDAQ:PLAY 29 September 2025 - 16 June 2026

Iceland’s newest budget airline, PLAY, stunned travelers and industry observers on Sept. 29 when its board abruptly terminated all operations globenewswire.com. In an official press release, Fly PLAY hf. announced that “all of the company’s flights have been canceled” globenewswire.com. The company said it would work with authorities and staff to wind down the airline, but gave no room for continued service. In practical terms, every PLAY flight scheduled from that point was cancelled. Stranded passengers at Keflavik Airport and elsewhere were told to seek alternate routes. The airline’s message to customers apologized for the disruption – “We are deeply sorry for the disruption this causes and thank you for your understanding,” the company stated airdatanews.com – while advising travelers to contact their credit card companies or travel agencies for refunds flyplay.com independent.co.uk. The shutdown was a dramatic turnaround for a carrier that only last year was pitching a “new business model” to investors. PLAY executives had said in August 2025 that unit revenue was at a record high on certain routes, and that profitability could emerge in 2026. However, those hopes quickly unraveled. Play’s board explicitly blamed its prolonged losses and “poor ticket sales” globenewswire.com reuters.com. According to Reuters,