The airline Play is in process of securing long-term funding and plans to begin formal operations next winter, according to Mannlíf sources. The amount of secured funding is 1.4 billion ISK (9.5 million USD, 8.8 million euro, converted by Islandsbanki). The company struggled to pay salaries until a rescuer came into the company and is now on its board. That saver is Elias Skúli Skúlason, chairman of the board and one of the owners of the airline service company Airport Associates.
The airline’s operating license is completed at the Icelandic Transport Agency but will not be formally granted to the company until long-term financing is secured. It can, therefore, be said that there is still considerable uncertainty about the future of Play and whether it will start formal operations this fall.
