Icelandair Buys Into Fly Play Europe - Thoughts?

So, Icelandair just bought a 49% stake in a Maltese AOC holder linked to Play for $686k. That's some interesting news. They're hoping this move will give them more operating flexibility. I guess it's a strategic play, trying to expand or maybe have more leeway in how they operate across Europe?

Honestly, $686,000 seems like a pretty reasonable price for a stake like that, especially when you think about how much airlines usually deal with. I wonder what kind of changes or benefits Icelandair is expecting to see from this.

Also, I'm curious about how this fits into Icelandair's bigger strategy. Are they looking to compete more directly with other European carriers, or is this more about having a presence in Malta for other reasons? And what about Play? Do you think this will impact how they operate at all, or is it more of a behind-the-scenes kind of thing?

Anyone have more insights or thoughts? Would love to hear what you all think about this move!

I think Icelandair's move is all about having more operational options in Europe. The $686k price tag does seem low, but maybe it reflects the current state of the market or the specific value they're getting from this AOC. As for Play, it could be a smart way for them to tap into Icelandair's network and resources. I'm curious if this will change any routes or scheduling for Play or if it's just a back-end shift. Anyone heard anything about route changes?