Play Europe Receives Maltese AOC, Expands Operations Beyond Iceland

Valletta, Malta – March 28, 2025 – Play Europe, a newly established subsidiary of the Icelandic airline Fly Play hf., has officially received its Air Operator Certificate (AOC) from the Malta Civil Aviation Directorate. This certification, granted during a ceremony held in the capital city of Valletta, enables Play Europe to commence its operations outside of Iceland.

The establishment of Play Europe is part of a strategic restructuring plan announced by Fly Play hf. in October 2024. The new subsidiary aims to manage European projects for third-party airlines while operating from Malta, providing leasing services and expanding the airline’s network of operations.

Fly Play hf. currently manages a fleet of ten aircraft and has already secured a leasing agreement with an operator in Eastern Europe. Under the new Maltese AOC, Play Europe will lease three aircraft, which will operate only outside the Icelandic market, without utilizing the PLAY brand or routing to or from Iceland.

The first aircraft registered under the Maltese AOC is an Airbus A321-NEO, built in 2018 and registered as 9H-PEA. Crew members, including pilots and senior cabin crew, will be employed directly by Play Europe and will operate from the lessee’s home country.

Einar Örn Ólafsson, CEO of Fly Play hf., commented on the importance of this development, stating, “This is an important step for us. These leasing projects will generate profitability for PLAY in line with our projections and will make operations more stable and predictable, with a positive financial outlook." He added, “Receiving the Maltese AOC ahead of schedule is the result of our team’s tireless work over the past months, and we are very proud of this achievement.”

During the certification ceremony, Charles Pace, Director General of the Malta Civil Aviation Directorate, welcomed Play Europe to the Maltese aviation sector. He expressed gratitude to the teams involved in the certification process, noting, “The process went smoothly thanks to the dedication of the Directorate’s inspectors and the PLAY team.”

While Play Europe focuses on leasing operations outside of Iceland, Fly Play hf. will maintain its status as an Icelandic low-cost airline, primarily operating its fleet from Keflavík International Airport.

As Play Europe embarks on this new journey, it aims to expand its presence in the competitive European aviation market, leveraging its new Maltese AOC to support its growth and operational ambitions.