{"id":193064,"date":"2026-10-19T15:00:48","date_gmt":"2026-10-19T15:00:48","guid":{"rendered":"https:\/\/aviacionaldia.com\/?p=193064"},"modified":"2026-10-20T11:42:42","modified_gmt":"2026-10-20T11:42:42","slug":"icelandair-completes-acquisition-of-49-stake-in-fly-play-europe-to-secure-maltese-air-operator-certificate","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2026\/10\/icelandair-completes-acquisition-of-49-stake-in-fly-play-europe-to-secure-maltese-air-operator-certificate.html","title":{"rendered":"Icelandair Completes Acquisition of 49% Stake in Fly Play Europe to Secure Maltese Air Operator Certificate"},"content":{"rendered":"\n<p><strong>Icelandair Group<\/strong> has finalized the acquisition of a 49% stake in<strong> Fly Play Europe HoldCo<\/strong>, a strategic move aimed at securing an additional Air Operator Certificate (AOC) through its Maltese subsidiary. The transaction is designed to streamline connectivity across Iceland, enhance operational flexibility, and unlock new commercial opportunities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Transaction Structure and Financial Terms<\/h2>\n\n\n\n<p>The acquisition was concluded for a total consideration of $686,000 (\u20ac586,000) under a formal agreement with Fly Play Europe, an investment fund managed by Isafold Capital Partners.<\/p>\n\n\n\n<p>As part of the transaction, both parties executed a shareholders&#8217; agreement outlining:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Regulatory funding conditions.<\/li>\n\n\n\n<li>Preferential call options allowing Icelandair to increase its equity stake in the future.<\/li>\n<\/ul>\n\n\n\n<p>From an accounting standpoint, the airline group noted that the transaction will have a &#8220;negligible&#8221; impact on its financial statements and its 2026 balance sheet; however, it is viewed as a strategic platform designed to generate sustained, long-term value.<\/p>\n\n\n\n<p><em><strong>\u2192 <a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/icelandair-adds-madrid-and-st-louis-to-route-network-for-summer-2027-expands-southwest-partnership.html\">Icelandair Adds Madrid and St. Louis to Route Network for Summer 2027, Expands Southwest Partnership<\/a><\/strong><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Operational Strategy and Keflavik Hub Development<\/h2>\n\n\n\n<p>The primary objective behind securing this secondary AOC\u2014held by the subsidiary Fly Play Europe Limited in Malta\u2014centers on strengthening the group\u2019s overall operating model.<\/p>\n\n\n\n<p>The strategic targets outlined for this integration include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Maximizing operational flexibility across the European market.<\/li>\n\n\n\n<li>Optimizing domestic and feeder operations in Iceland.<\/li>\n\n\n\n<li>Capturing new commercial lines of business outside its traditional core structure.<\/li>\n<\/ul>\n\n\n\n<p>Icelandair President and CEO Bogi Nils Bogason highlighted the broader corporate scope of the initiative, stating that securing a supplementary AOC is intended to support the sustainable development of its hub at Keflavik International Airport while safeguarding local employment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Regulatory Approvals and Closing Conditions<\/h2>\n\n\n\n<p>The full closing of the acquisition remains subject to standard conditions precedent:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Civil Aviation Authority Clearance:<\/strong> The deal requires formal approval and clearance from the Civil Aviation Directorate of Transport Malta to ensure continued operational compliance and the uninterrupted validity of the carrier&#8217;s Air Operator Certificate.<\/li>\n<\/ul>\n\n\n\n<p>Once institutional and regulatory approvals in Malta are secured, Icelandair will integrate this technical platform into its long-term fleet growth and route-network resilience strategies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"related-topics\">Related Topics<\/h2>\n\n\n\n\t\t\t<div class=\"wp-block-uagb-post-grid uagb-post-grid  uagb-post__image-position-top uagb-post__image-enabled uagb-block-9e302684     uagb-post__items uagb-post__columns-2 is-grid uagb-post__columns-tablet-2 uagb-post__columns-mobile-1 uagb-post__equal-height\" data-total=\"434\" style=\"\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/latam-airlines-strengthens-regional-leadership-with-five-honors-at-the-2026-world-travel-awards.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\" class='uagb-image-ratio-inherit'><img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/03\/LATAM-Airbus-A321.webp\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/03\/LATAM-Airbus-A321.webp 800w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/03\/LATAM-Airbus-A321-300x150.webp 300w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/03\/LATAM-Airbus-A321-768x384.webp 768w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/03\/LATAM-Airbus-A321-380x190.webp 380w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/latam-airlines-strengthens-regional-leadership-with-five-honors-at-the-2026-world-travel-awards.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">LATAM Airlines Strengthens Regional Leadership with Five Honors at the 2026 World Travel Awards<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"uagb-post__text uagb-post__cta wp-block-button\">\n\t\t\t\t<a class=\"wp-block-button__link uagb-text-link\" style=\"\" href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/latam-airlines-strengthens-regional-leadership-with-five-honors-at-the-2026-world-travel-awards.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Read More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/copa-airlines-restores-operations-following-seismic-activity-in-panama-and-expands-commercial-flexibility-policies.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\" class='uagb-image-ratio-inherit'><img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2020\/05\/Copa-Airlines-Aviones-2.jpg\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2020\/05\/Copa-Airlines-Aviones-2.jpg 800w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2020\/05\/Copa-Airlines-Aviones-2-300x150.jpg 300w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2020\/05\/Copa-Airlines-Aviones-2-768x384.jpg 768w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2020\/05\/Copa-Airlines-Aviones-2-380x190.jpg 380w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/copa-airlines-restores-operations-following-seismic-activity-in-panama-and-expands-commercial-flexibility-policies.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Copa Airlines Restores Operations Following Seismic Activity in Panama and Expands Commercial Flexibility Policies<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"uagb-post__text uagb-post__cta wp-block-button\">\n\t\t\t\t<a class=\"wp-block-button__link uagb-text-link\" style=\"\" href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/copa-airlines-restores-operations-following-seismic-activity-in-panama-and-expands-commercial-flexibility-policies.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Read More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/arajet-resumes-direct-flights-between-punta-cana-and-guayaquil.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\" class='uagb-image-ratio-inherit'><img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/02\/Arajet-Boeing-737-MAX.jpg\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/02\/Arajet-Boeing-737-MAX.jpg 800w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/02\/Arajet-Boeing-737-MAX-300x150.jpg 300w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/02\/Arajet-Boeing-737-MAX-768x384.jpg 768w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/02\/Arajet-Boeing-737-MAX-380x190.jpg 380w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/arajet-resumes-direct-flights-between-punta-cana-and-guayaquil.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Arajet Resumes Direct Flights Between Punta Cana and Guayaquil<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"uagb-post__text uagb-post__cta wp-block-button\">\n\t\t\t\t<a class=\"wp-block-button__link uagb-text-link\" style=\"\" href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/arajet-resumes-direct-flights-between-punta-cana-and-guayaquil.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Read More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/latam-airlines-announces-nonstop-flights-between-santiago-de-chile-and-caracas-starting-in-january.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\" class='uagb-image-ratio-inherit'><img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2024\/12\/LATAM-Airlines-Airbus-A320.jpg\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2024\/12\/LATAM-Airlines-Airbus-A320.jpg 800w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2024\/12\/LATAM-Airlines-Airbus-A320-300x150.jpg 300w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2024\/12\/LATAM-Airlines-Airbus-A320-768x384.jpg 768w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2024\/12\/LATAM-Airlines-Airbus-A320-380x190.jpg 380w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/latam-airlines-announces-nonstop-flights-between-santiago-de-chile-and-caracas-starting-in-january.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">LATAM Airlines Announces Nonstop Flights Between Santiago de Chile and Caracas Starting in January<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"uagb-post__text uagb-post__cta wp-block-button\">\n\t\t\t\t<a class=\"wp-block-button__link uagb-text-link\" style=\"\" href=\"https:\/\/aviacionaldia.com\/en\/2026\/10\/latam-airlines-announces-nonstop-flights-between-santiago-de-chile-and-caracas-starting-in-january.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Read More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t","protected":false},"excerpt":{"rendered":"Icelandair Group has finalized the acquisition of a 49% stake in Fly Play Europe HoldCo, a strategic move&hellip;\n","protected":false},"author":4316,"featured_media":133905,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[1],"tags":[230,269,636],"class_list":{"0":"post-193064","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-airlines","8":"tag-airline","9":"tag-europe","10":"tag-icelandair-2"},"uagb_featured_image_src":{"full":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false],"thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-150x150.jpg",150,150,true],"medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-300x150.jpg",300,150,true],"medium_large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-768x384.jpg",768,384,true],"large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false],"1536x1536":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false],"2048x2048":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false],"pk-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",80,40,false],"pk-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",300,150,false],"csco-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-80x80.jpg",80,80,true],"csco-intermediate":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-200x140.jpg",200,140,true],"csco-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-380x220.jpg",380,220,true],"csco-thumbnail-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-300x180.jpg",300,180,true],"csco-thumbnail-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-380x190.jpg",380,190,true],"csco-medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false],"csco-medium-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX-560x336.jpg",560,336,true],"csco-medium-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false],"csco-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false],"csco-large-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false],"csco-extra-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/11\/Icelandair-Boeing-737-MAX.jpg",800,400,false]},"uagb_author_info":{"display_name":"Redacci\u00f3n - Aviaci\u00f3n al D\u00eda","author_link":"https:\/\/aviacionaldia.com\/en\/author\/aad"},"uagb_comment_info":0,"uagb_excerpt":"Icelandair Group has finalized the acquisition of a 49% stake in Fly Play Europe HoldCo, a strategic move&hellip;","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/193064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/users\/4316"}],"replies":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/comments?post=193064"}],"version-history":[{"count":1,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/193064\/revisions"}],"predecessor-version":[{"id":193065,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/193064\/revisions\/193065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media\/133905"}],"wp:attachment":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media?parent=193064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/categories?post=193064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/tags?post=193064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}