Since PLAY's inception, we've observed shifts in the market, and it is our view that the via-route network is no longer as profitable as it once was. As a result, we have decided to adjust our business model, which will take effect around mid-2025. In short, we will focus on the aspects of our business that have proven both successful and profitable - namely, transporting passengers between Southern Europe and Iceland.
The airline pointed to an increase in supply in the North American market, which it said has negatively affected its financial results. The carrier's plan is to decrease the number of North American destinations it flies to by mid-2025.
Play first started flying in Europe in 2021 before launching its first flight from the U.S. the next year. The airline, which is known for frequent sales and inexpensive, bare-bones tickets, has operated a 'hub-and-spoke model' in which all flights connect through Reykjavik before heading on to other destinations across Europe.
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