Icelandic startup PLAY delays initial ticket sales

Icelandic LCC startup PLAY has postponed initial sales of tickets, as local media reported the founders are offering a greater stake in the business to outside investors. “As we are a startup company, things can sometimes take a little longer than planned as there are many tasks to finalize,” the airline said on Facebook. “Our original plan was to start selling tickets in November, but unfortunately, we must delay that a little longer.” The post did not indicate when tickets would be available. The airline also said it is considering Paris as one of its first destinations, but cautioned: “However, we never know what the future holds for PLAY.” According to local media reports, potential investors had balked at the founders—a mix of personnel from failed Icelandic ultra-LCC WOW Air and Icelandic ACMI and charter operator Air Atlanta—holding 50% of the company. As a result, according to the reports, the founders have offered to make 70% of the company’s equity available to outside parties. That 70% stake would cost investors around $14 million, according to the reports.<br/>