Eight months after the collapse of WOW Air, a new Icelandic LCC has emerged with plans for services to Europe and North America.

The new airline, PLAY, draws several members of its launch team from both WOW Air and Icelandic charter and ACMI specialist Air Atlanta.

The airline’s unofficial name prior to launch was WAB Air—for We Are Back, a reference to the former WOW Air, where several executives were previously employed.

PLAY’s CEO is Arnar Már Magnússon, whose online professional profile shows him as having served as accountable manager and VP operations at WOW Air. Prior to that he was the company’s chief pilot and had earlier been a pilot with Ireland-based LCC Ryanair.

In July it was reported that Avianta Capital will invest ISK5 billion ($40 million) in the airline for a 75% stake. The investment fund is owned by Aislinn Whittley-Ryan, daughter of Michael Ryan, who joined Ryanair shortly after it was founded by his brother Tony Ryan.

The airline plans to start operations with six Airbus A321s by summer 2020 and expects the fleet to grow to 10 within three years.

According to Icelandic media outlets, the new airline will take an initial two A321s from lessors and fly to six European destinations, with four North American cities to be added in spring 2020.

Like WOW Air and Icelandair, the new airline plans to connect the two continents via Reykjavik.

Alan Dron, alandron@adepteditorial.com