Icelandair completes purchase of 49% stake in Play Europe
Icelandair Group has finalised its acquisition of a 49% shareholding in Play Europe, a Maltese air operator's certificate holder set up by the former budget rival Play before its collapse.
Icelandair Group has closed its purchase of a 49% stake in Play Europe, a company holding a Maltese air operator's certificate. The stake was bought from Isafold Capital Partners Fund FPE for $686,000.
The Icelandic group said in a stock-exchange notice dated 19 October that all conditions precedent to the transaction had been met, leaving it with 49% of Fly Play Europe Holdco, the parent of the Maltese AOC holder.
Play Europe was created by Play, the low-cost carrier that competed with Icelandair before it shut down last year. Before its collapse, Play moved some of its Airbus A320neo-family aircraft onto the Maltese registry.
Icelandair chief executive Bogi Nils Bogason has said the Maltese certificate would give the group more operational flexibility and allow it to simplify and streamline its Icelandic operation.
Sources
- flightglobal.comIcelandair Group completes acquisition of Play Europe stake