Please find attached announcements

Please find attached announcements

Fly Play hf.: Financial Results Q3 2024

PLAY is making a fundamental change to its business model by further increasing the emphasis on the strong leisure markets out of Iceland, and, at the same time, it is de-emphasizing its business of connecting passengers between North America and Europe. 

PLAY airlines carried 187,960 passengers in August 2024, marking a 1.8% increase from August 2023 when the airline transported 184,926 passengers. The load factor in August 2024 was 91.6%, setting a record for the highest load factor in a single month for PLAY. This represents a 2.7% increase from the 88.9% load factor recorded in August last year.

Attached is a major shareholder announcement from Birta lífeyrissjóður

Play carried 187.835 passengers in July 2024, achieving a load factor of 88.4%. Of these passengers flying with Play in July, 31.1% were flying from Iceland, 30.7% were flying to Iceland, and 38.2% were connecting passengers (VIA).

Nasdaq Iceland has approved the application of Fly Play hf. (the “Company” or “PLAY”) for admission of its shares to trading on the Nasdaq Iceland Main Market. The Company’s shares will be admitted to trading on the Main Market on August 8, 2024 and correspondingly removed from trading on the First North Growth Market after the market closes on 7 August, 2024.

PLAY has made changes to its executive management and directors, effective by the end of July. These changes are a part of PLAY's ongoing efforts to strengthen and enhance its operations. 

The preparation of our interim financial report and updated financial outlook for 2024 indicates that our EBIT results will not be around zero as previously stated but will be negative. However, our EBIT is projected to be much better than last year. The current business environment for airlines is challenging, making it difficult to provide further guidance on our operating factors going forward. PLAY's results for Q2 will be published after market closure on July 25. Einar Örn Ólafsson, PLAY's CEO, will present the results in a live stream the same afternoon at 4:15 PM.

Einar Örn Ólafsson, CEO of PLAY, has today taken on the position of interim CFO. The measure is temporary until a new CFO has been appointed. At the same time, Ólafur Þór Jóhannesson, the outgoing CFO, will step down as of today, having resigned at his own request last month.

With reference to Article 19 of MAR, the following transactions are hereby announced by parties that are close to Einar Örn Ólafsson, CEO of Fly Play hf., ID no. 660319-0180, Suðurlandsbraut 14, 108 Reykjavík, due to their indirect transactions in shares in Fly Play hf. The transactions below are a part of the conversion of certain liabilities of Leika Investments ehf. into share capital, but the company owns 93,596,040 shares in Fly Play hf. This is not a direct transaction with shares in Fly Play hf., and the transaction does not entail any changes in Leika Investments' shareholding in Play hf.

In April 2024, PLAY airlines experienced a significant increase in passenger volume, with 122,217 travelers compared to 102,499 in April 2023, marking a notable 19% rise. Moreover, the load factor for April 2024 reached 85.1%, up from 80.8% in the same month last year. This increase is particularly impressive considering a 16% growth in available seat kilometers (ASK) and the timing of Easter, which occurred in March this year.

Arnar Már Magnússon has been appointed as the Deputy CEO of PLAY airlines. Arnar Már has served as the Chief Operations Officer of PLAY and will retain that position alongside his new role.