Icelandic budget carrier Play has secured a Maltese air operator’s certificate from the country’s civil aviation regulator.
Play has been seeking the authorisation as part of a strategy to diversify its operations, and capitalise on fleet-leasing opportunities.
The carrier is setting up a subsidiary – Play Europe – to which it will hive off part of its fleet of 10 Airbus A320neo-family jets.
These will be used to operate services between European mainland cities, on behalf of other airlines.
It has already transferred an initial A321neo (TF-AEW) which has been placed on the Maltese register as 9H-PEA.
Play says it has reached an agreement under which it will lease three Maltese-registered aircraft to an Eastern European airline.
“These leasing projects will generate profitability for Play in line with previous projections and will make the company’s operations more predictable and stable, with a positive financial outlook,” says chief executive Einar Orn Olafsson.
He says the AOC has been obtained ahead of schedule.
“Pilots and senior cabin crew will be employees of Play Europe and will be hired and based in the country from which the lessee operates,” says the carrier.
Reykjavik-based Play is moving away from hub-and-spoke operations, to concentrate on point-to-point services, after facing increased competition and capacity on the transatlantic market.
