More holiday sales boost Jet2 parent’s profits
18.11.11
Leeds Bradford Airport based Dart Group has reported pre-tax profits up 8 percent to £41.6m in the six months to September 30. An improved performance at Jet2holidays, which packages flights from its budget airline Jet2 with hotels and airport transfers, boosted profits, despite high jet fuel costs hitting the budget airline.
The company said that Jet2 had grown significantly, with capacity up by 29 percent in the six months. The budget airline’s revenues rose by 27 percent to £316m, as a result of increased passenger numbers. The company flew 3.2m scheduled passengers in the period, an increase of 32 percent on last year, with the total number of routes served from all bases up to 148.
The growth of Jet2holidays accounted for almost a quarter of the increase in Jet2 passenger numbers. Load factors were up from 87.5 percent to 89.8 percent, however average fares decreased from £53.79 to £52.63 as a result of 'challenging trading conditions'.
Retail revenue per passenger increased by seven percent to £27.87 during the half year through a continued focus on pre-departure, in-flight and ancillary product sales. Coupled with rising costs - with jet fuel prices rising by 24 percent per tonne - a weaker sterling exchange rate also resulted in a reduction in Jet2's operating margins.
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