Isavia posts lower first-half profit after Play collapse
Iceland's airport operator Isavia reported weaker revenue and profit for the first half of 2026, citing the handover of duty-free operations at Keflavík and fewer passengers after Play's insolvency.
Isavia, the airport operator in Iceland, reported first-half 2026 revenue of 20.3 billion Icelandic kronur (about 147 million euros), down 4.2 billion kronur (about 30 million euros) from a year earlier. Operating profit before depreciation, interest and taxes came to 3.3 billion kronur (about 24 million euros), against 4.2 billion kronur (about 31 million euros). Net profit fell to 441 million kronur (about 3.2 million euros) from 1.1 billion kronur (about 8.2 million euros).
Two things drove the revenue decline, according to Isavia: the duty-free business at Keflavík airport went to a new operator in May 2025, and passenger numbers fell after Play's insolvency.
Keflavík handled about 3.4 million travellers in the first six months, eight percent fewer than the same period the previous year. Group investments totalled 5.7 billion kronur (about 41 million euros).
Sources
- aerotelegraph.comIsavia meldet Gewinnrückgang nach Play-Pleite