Fly Play hf. — Earnings Release 2021

Oct 7, 2021

SEPTMBER 2021 - FLY PLAY HF.
Operational Statistics
PLAY

Key Performance Indicators (KPI's)

September 2021

	September 2021	Year to date
Number of Passengers	15,223	42,737
Load Factor %	52.1%	46.3%
Available seat kilometers (ASK) in million	76.3	239.9
Revenue Passenger kilometer (RPK) in million	39.8	111.0
Stage length (KM)	2,549	2,550
	September 2021	Year to date
---	---	---
CO₂ per RPK (grams CO₂ per RPK)	96.0	107.2
CO₂ emissions in tonnes	3,816	11,900
	September 2021	Year to date
---	---	---
On-time performance (arrivals)	96.2%	96.9%

Note: PLAY uses commas and thousand separators according to English traditions.

www.flyplay.com
OCTOBER 7 2021

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SEPTEMBER 2021 - FLY PLAY HF.
Operational Statistics
PLAY

POSITIVE DEMAND TRENDS AND NEW DESTINATIONS

Load factor was 52.1%

Ticket sales increased again in September after being affected by the COVID-19 pandemic this summer

96,2% on-time arrivals in September 2021

NEW AIRCRAFT AND NORTH AMERICA

On September 21, PLAY signed an agreement with GECAS, a major international aircraft lessor for three A320neo and one A321NX narrowbody aircraft. The aircraft are scheduled to be delivered between autumn 2022 and spring 2023. In August, PLAY signed a Letter of Intent with another major aircraft lessor for two A320neo that are scheduled to arrive in spring 2022 in time for the change to a hub-and-spoke business model. With these arrangements, PLAY is moving towards launching services to North America in spring 2022 and taking advantage of favorable market terms, securing brand-new aircraft and locking in long-term cost savings.

In September, PLAY carried 15,223 passengers. The load factor was 52.1%, compared to 46% in August. The improved load factor reflects recovering demand both to and from Iceland. During the month there was a decline in the number of passengers who changed their bookings due to COVID-19. This reflects the decline in the number of COVID-19 cases in Iceland, growing consumer confidence and the relaxation of travel restrictions in Iceland and abroad. Inbound demand has also been rising as PLAY becomes a better known brand in markets outside of Iceland and COVID-19 travel restrictions are relaxed. This positive demand trend continues into October and the coming months look very promising, the load factor is expected to rise for the full month of October, the fourth month in a row.

NEW CITIES TO BE ADDED & LARGEST HIRING YET

In September, PLAY announced a recruitment drive to fill 100 cabin crew and 50 flight crew positions to support the airline's growth for 2022. This will double the number of employees employed by the company.

Due to the positive demand trends outlined above, PLAY has added Amsterdam as a new destination to its winter schedule. The first flight to Amsterdam will be on December 3, with flights initially operating Mondays and Fridays and Thursdays and Sundays to be added from December 16. Additional new destinations in Europe will be announced in the coming weeks.

"We have been careful in our plans due to the pandemic. As the local tourism shows signs of recovery and travel restrictions are being relaxed, we see our load factor increase and very positive demand trends for the future. It's safe to say that we are optimistic and looking forward to a robust next year. I am truly excited to welcome new members to our team and we are very proud to be able to provide all these new jobs. We have exciting times ahead of us."

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Birgir Jónsson, CEO

www.flyplay.com
OCTOBER 7 2021