Icelandair completes deal for 49% stake in former rival PLAY’s Maltese operation

Icelandair has finalized an agreement to acquire a 49% equity interest in Fly Play Europe Holdco, the Maltese entity previously associated with its competitor, PLAY. This acquisition marks a significant development following Icelandair's previous ownership of PLAY. The transaction solidifies Icelandair’s strategic positioning within the European low-cost airline market. Details regarding the financial terms of the deal were not disclosed at the time of publication. AeroTime reported that this move represents a notable shift in competition dynamics among airlines operating across Europe.