The official start of summer is still a few weeks away, and the airline network planners haven't been taking any vacations just yet.
14.05.2024 - 23:21 / thepointsguy.com / Nova Scotia
It would be incorrect to describe Iceland's Play Airlines as a startup anymore. Launched in 2021 during the height of the coronavirus pandemic, the airline is on the cusp of its third summer under the leadership of a new CEO.
Einar Örn Ólafsson, who ascended to the top spot in March after serving as the chairman of Play's board of directors, has sent a clear message to investors in his first few weeks: He will bring the airline into the black for the first time ever — as long as there is no volcanic eruption or surge in global oil prices to contend with.
Oh, and Ólafsson also happens to be Play's largest shareholder.
Map watching: The award for 'sexiest new route' of the year goes to ...
"The past few weeks have been more about getting to know the details of the business ... getting into the nitty gritty, getting my hands dirty," he said during an interview on Monday.
Ólafsson plans no major changes to Play's core strategy of offering cheap seats — everything else costs extra — between North America and Europe via Reykjavik's Keflavik Airport (KEF).
"We're not going to take a U-turn," he said, adding that where he sees opportunities for changes are only "small things."
While Ólafsson was mum on what those small things could be, reliable operations and profitability are top of his list. Play, which has not posted an annual profit since its launch, aims to break even this year and post a profit next year, according to an April investor presentation.
Play vs. Icelandair: Comparing Iceland's newest and oldest airlines
That means growth, at least to North America, is off the table in 2024. Instead, Play wants its North American network to mature — in other words, turn regular profits — before it adds more flights. North American destinations the airline serves include Baltimore/Washington International Thurgood Marshall Airport (BWI), Boston Logan International Airport (BOS), John C. Munro Hamilton International Airport (YHM) near Toronto, New York Stewart International Airport (SWF) and Dulles International Airtport (IAD) near Washington, D.C.; the carrier also flies to another 24 destinations in Europe, according to Cirium Diio schedules.
From June through August, the peak summer months, Play will only fly around 3% more seats systemwide than in 2023, the Cirium Diio data shows. That compares to a 67% annual jump during the same period last year.
Icelandair, Play's main competitor, plans to fly more than 5% additional seats than last year during the same period, according to Cirium Diio. It will add Halifax, Nova Scotia, and Pittsburgh to its map this summer.
"There are a few cities still on the Eastern Seaboard, or in eastern Canada, that we would like to fly to," Ólafsson said. Play will likely add
The official start of summer is still a few weeks away, and the airline network planners haven't been taking any vacations just yet.
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In a year marked by significant recovery and transformation within the airline industry, AirlineRatings.com has revealed its much-anticipated list of the world’s best airlines for 2024.
Air travel is now going to the dogs — but in style.Bark Air, a new airline designed completely for pups, recently made its inaugural flight from New York to Los Angeles. The service currently operates limited routes servicing New York, Los Angeles, Paris, and London. The airline is encouraging people to suggest future routes through an online form. A one-way ticket from New York to Los Angeles costs $6,000 and a one-way ticket from New York to London costs $8,000. From New York, the airline operates out of a private airport in Westchester County, and flies to the Van Nuys airport outside of Los Angeles. “We are excited to take the insights we’ve learned over the years to create an experience that is truly dog-first, which is drastically different from just accepting dogs – from the ground to the skies,” Bark’s CEO Matt Meeker said in a statement.