Turnover and profits up at Jet2 owner
24.06.11
Dart Group, the owner of Leeds Bradford based budget airline Jet2, has announced increased turnover of £543m for the year to 31 March 2011, up from £435m the previous year, while its pre-tax profit was also up from £22.2m to £26.2m. The company said profitability had increased in its aviation division, primarily due to increasing load factors.
Jet2 added two leased Boeing 757-200 aircraft and two leased Boeing 737-800s to the fleet towards the end of the financial year, in part to enable the expansion of its operations at Newcastle, East Midlands and Manchester airports.
The company said its strategy is to understand and meet the holiday needs of its Northern based customers. Dart Chairman Philip Meeson said: ‘We have expanded our leisure airline for summer 2011 with four additional aircraft, a new base at Glasgow and a growing package holiday programme.’
‘We fly carefully scheduled flights to high volume leisure destinations, offering ‘friendly low fares’ to seat only customers and ‘package holidays you can trust’ to Jet2holidays’ customers. Both products meet the demand for real value in these difficult and uncertain economic times.’
However, he warned that challenging economic conditions will continue to affect its aviation business. He said that higher utility prices, the rising cost of food and fuel, and employment uncertainty, are all taking their toll on leisure spend.
Forward bookings of £135 million boosted group cash and the board has recommended an increased final dividend of 83p a share compared with 75p last year. Add to: del.icio.us | Digg it | Newsvine | NowPublic | Reddit
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