By Mbl.is

Copyright mbl

The board of Fly Play hf. has announced its decision to cease operations, effective immediately, and all of the airline’s flights have been canceled, according to a statement released by the company.

The announcement reads as follows:

“The board of Fly Play hf. has decided to terminate operations, and all of the company’s flights have been canceled. The company will work closely with authorities and employees to implement the necessary steps for winding down operations.

There are many reasons behind this decision. The company’s performance has long fallen short of expectations, ticket sales have been poor in recent weeks and months following negative media coverage, and internal disagreements among some employees regarding strategic changes have further strained the situation.”

New business model failed to save the airline

“Last fall, Play introduced a new business model that initially inspired significant optimism.

Unfortunately, it has now become clear that these changes cannot deliver the results needed to overcome the airline’s deep-seated financial troubles. In hindsight, these measures would have needed to be implemented much earlier.”

400 employees to lose their jobs

As a result, Play has officially ended its operations today. Thousands of passengers will now need to rebook their return travel, around 400 employees will lose their jobs, and the airline’s business partners will suffer financial losses.

“The board and management of Play emphasize that every effort was made to reach a different outcome. This decision is the most difficult possible and was only taken after all other options were fully exhausted.

The board sincerely apologizes to all those affected by this outcome,” the statement concludes.