By Simon Calder

Copyright independent

Play, a low-cost Icelandic airline, has ceased operations, resulting in the cancellation of all flights and approximately 500 job losses.

The airline, which commenced flights in 2021, operated a business model similar to the previously failed Wow Air, connecting European and US destinations via Reykjavik.

Play consistently reported substantial financial losses throughout its brief existence, including $66m (£49m) in one year, rendering its operations unsustainable.

Around 120,000 passengers with future bookings are affected, with advice to seek alternative flights and potential ‘rescue fares’ from carriers such as Icelandair and easyJet.

Affected passengers are encouraged to pursue refunds through credit or debit card providers or package holiday organisers, as direct compensation under air passenger rights rules is unlikely.