Iceland's Fly Play to cease all flights, 400 staff to lose jobs

(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.

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

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)