Play Europe, the Maltese subsidiary of PLAY (Iceland) (OG, Reykjavik Keflavik), inducted its first A321-200N and subsequently obtained its Air Operator's Certificate on March 27, 2025.

9H-PEA (msn 8008), formerly TF-AEW with the Icelandic unit, was ferried from Reykjavik Keflavik to Ostrava on March 25. It was ferried under the new operator's 'FPE' code to Nottingham East Midlands on March 28.

The Maltese subsidiary will be dedicated to ACMI operations and will operate exclusively on behalf of other carriers, with all in-house services retained under the Icelandic certificate. PLAY said that the Maltese company will add at least two more A321neo to operate the recently announced two-year contract with an unnamed Eastern European operator covering three aircraft of the type in total.

"These leasing projects will generate profitability for PLAY in line with previous projections and will make the company’s operations more predictable and stable, with a positive financial outlook," said chief executive Einar Örn Ólafsson.

Play Europe is wholly owned by the Icelandic parent. Ólafsson is the chief executive of both airlines.

The ch-aviation fleets module shows that PLAY's fleet comprises six A320-200Ns, two remaining A321-200Ns, and one A321-200NX.