Fly Play will cease its activities in a move that will hit around 400 employees, the Icelandic airline has said, citing the impact from its weak financial performance and poor ticket sales.
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.
Shares in Fly Play have fallen by 55% from the beginning of the year.
The airline had services from Iceland to North America and Europe, including Dublin.
