Story perspectives
Icelandic Airline PLAY Declares Bankruptcy, Strands Thousands
10/12/2025
1 of 1
Story summary
- PLAY, the Icelandic low-fare airline, declared bankruptcy on September 29, 2025, leaving about 9,300 Icelanders stranded abroad and 9,000 tourists.
- The company borrowed 2.8 billion ISK and posted losses since its inception.
- Icelandair's chief executive officer said the collapse was unexpected.
- Former CEO Einar Örn denied allegations of deceit and said investigations into the legality of the maneuvers are underway.
