(Reuters) -Fly Play will cease its activities in a move that will hit around 400 employees, the Icelandic airline said on Monday, citing the impact from its weak financial performance and poor ticket
Fly Play Airlines Shuts Down Operations, 400 Employees Affected
Fly Play Airlines Ceases Operations
(Reuters) -Fly Play will cease its activities in a move that will hit around 400 employees, the Icelandic airline said on Monday, citing the impact from its weak financial performance and poor ticket sales.
Impact on Employees
All of the company's flights have been canceled, the company said, adding that it will engage in talks with workers and authorities to wind down its operations
Stock Market Reaction
The company's shares slid 2.6% in morning trading on the OMX Iceland stock exchange before trading in the stock was halted. Shares in Fly Play had fallen 55% from the beginning of the year.
(Reporting by Boleslaw Lasocki in Gdansk; Editing by Matt Scuffham)
