Icelandair Group completes acquisition of Play Europe stake

Icelandair Group finalized the purchase of a 49% shareholding in Play Europe, securing access to a Maltese air operator’s certificate (AOC). This transaction involved acquiring a company established by Icelandair's former budget rival, Play, prior to its bankruptcy and subsequent closure. The AOC holder is based in Malta, reflecting strategic considerations for European operations. This acquisition grants Icelandair enhanced operational capabilities within the European aviation market. Moving forward, this investment positions Icelandair to expand its reach and service offerings through Play Europe’s existing infrastructure.