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Jet2 expecting stronger summer ahead

Published 24/04/2024, 07:45
© Reuters.  Jet2 expecting stronger summer ahead

Proactive Investors - Jet2 PLC (LON:JET2) has said demand for the summer is stronger than last year, signalling the travel boom continues.

Bookings for package holidays are up by 13%, Jet2 said in a statement, while flight-only passengers have increased by 18%.

This is as the airline’s capacity is 12.3% higher than a year ago at 17.1 million seats, with the summer season 55% sold so far, leaving load factors 1% ahead of this time last year.

Alongside this, Jet2 said pricing had seen a “modest increase”, easing cost pressures, while over 80% of fuel was already bought for the year, shielding against price shocks from the likes of tensions in the Middle East.

“Operationally, we are well set for a successful Summer 2024 season with the required number of aircraft to support our flying programme and sufficient, fully trained resources to operate,” Jet2 said.

Jet2 added group profit for the year just gone was set to come in roughly 33% higher at £515 million to £520 million and in line with expectations.

Cash on hand sat at £3.2 billion as of late March, or at £1.3 billion when excluding customer advance deposits, with full results due in July.

Read more on Proactive Investors UK

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