The Maltese division of Ukrainian operator Skyup has emerged as a partner for Icelandic Career Play Airlines supplying aircraft under a new diversification strategy.
Play is deploying four of the 10 Airbus A320neo-Family jets for wet leases to Skyup MTs starting this spring and summer.
The contract will run until the end of 2027.
Play recently secured its own Maltese Airlines operator certificate and has transported multiple aircraft to this operation as part of its revised business plan.
The business plan aims to reduce reliance on transatlantic services, support point-to-point flights to leisure destinations, and provide wet lease capacity to other operators.
Over the first quarter, the operating loss was $21.7 million and the net loss was $26.8 million.
Play points out that unlike last year, this quarter did not benefit from the early period of Easter holidays.
One of the Play aircraft was also on lease missions a quarter, but none of the equivalent of one second was available for maintenance.
Revenues fell by $8 million as passenger numbers fell, but operating expenses fell by the same amount.
Chief Executive Officer Einar Orn Olafsson claims the company is “providing both commitments” with its new business plan, and the outlook is “positive.”
“We have made a clear strategic decision to place more emphasis on leisure destinations from Iceland, and the results are already visible,” he says.
“We have expanded our network of popular holiday destinations and our leisure capacity continues to grow steadily.”
He added that the lease to Skyup MT highlights the carrier's ability to adapt to market opportunities and optimize fleet use.
Olafson said the unit's revenues “essentially unchanged.”
Play operates a fleet of seven aircraft during its peak summer. This includes one aircraft in a short-term lease to support the schedule.
