Icelandic startup PLAY celebrates listing from 12,000 feet

Low-cost startup airline PLAY was listed on the Nasdaq First North Growth Market on July 9, 2021. The airline marked this milestone by ringing a bell at 12,000 over Iceland.

The Icelandic-based carrier recorded a successful listing on Iceland’s stock market following a successful issuance of 221,906,800 shares on June 25, 2021. The offering drew in approximately 4600 subscriptions valued at ISK 33.8 billion ($274 million) according to reports from the Global Newswire.

 Magnus-Hardarson-and-Birgir-Jonsson

PLAY’s chief executive Birgir Jonsson rang a bell at 12,000 feet over Iceland to mark this significant milestone in the airline’s young history.

“After a successful IPO, our inaugural flight and now trading of our shares, these past few weeks will be remembered for a long time,” said Jonsson.

“Our staff has worked wonders and we are well prepared to maximise the opportunities post-Covid,” added Jonsson. “I think we can be allowed a little optimism now that we can start rebuilding Iceland’s aviation and tourism sectors.”

After unveiling the livery of its 192-seater Airbus A321neo aircraft in mid-June 2021, PLAY went on to launch its inaugural flight from Reykjavik Airport (KEF) to London Stansted (STN) on June 24, 2021. 

The airline plans to operate a fleet of three A321neos by the end of July 2021 and add an additional three aircraft, to come to a total of six aircraft by the spring of 2022. It also plans to launch low-cost long-haul flights to the United States in early 2022. 

Related Posts