Icelandair takes 49% stake in Maltese AOC holder

Icelandair Group has secured a 49% ownership stake in Fly Play Europe Holdco (FPE), an entity holding a European Air Operator Certificate (AOC). This acquisition provides Icelandair with enhanced operational flexibility and expands its potential for international growth across Europe. The transaction involved a US$686,000 investment from Isafold Capital Partners, the fund manager behind FPE hs.. This strategic move allows Icelandair to leverage FPE’s Maltese AOC, facilitating access to new markets and streamlining operations. The deal underscores Icelandair's commitment to expanding its global reach through targeted partnerships and regulatory advantages.