PLAY Airlines reports positive Q2 2023 results
The airline's revenues reached USD 73.1 million, more than double compared to the same period last year
PLAY Airlines achieved remarkable success in Q2 2023, reporting a significant operational profit and substantial revenue growth. The airline flew 392,000 passengers with a load factor of 84.6 percent.
Revenues reached USD 73.1 million, more than double compared to the same period last year. PLAY remains cash positive with USD 54.5 million in cash reserves and no external debt. Earnings before interest and taxes (EBIT) turned positive, surpassing expectations.
The airline’s performance was bolstered by its expansion in ancillary revenues, with a 19 percent increase per passenger due to the successful launch of bundled fares. Forward bookings remain strong, and PLAY continues to attract passengers, with record-breaking numbers carried in both May and June.
PLAY expanded its network with 12 new destinations and is adding Frankfurt to its routes in December 2023. The airline is recognized as the best low-cost airline in Northern Europe, marking a significant achievement within just two years of operation. The addition of a state-of-the-art A321neo to its fleet makes PLAY’s fleet the youngest and most modern in Europe.
Looking ahead, PLAY anticipates carrying 1.5 to 1.7 million passengers in 2023, maintaining a positive EBIT. The airline plans to add more aircraft to its fleet in the coming years.
