Profits double at Jet2
06.12.08
Leeds Bradford Airport based budget airline Jet2 has announced a 97 percent increase in pre-tax profits over the last six months. Despite the impressive increase, bosses at the airline say they are taking a ‘cautious approach’ to 2009.
Turnover at Jet2's parent company, Aim-listed Dart Group, is up 8 percent to £272.8 million, compared to £252.9 million in the same period last year, with underlying pre-tax profits up by 175 percent to £33.5 million.
The airline flew 2.3 million scheduled passengers in the six months to September 30, compared to 2.6 million in 2007, with the number of routes served cut to 74 from 77. Jet2 operates 30 aircraft of which 29 – including 21 Boeing 737-300s and eight Boeing 757-200s – are owned by the group.
Jet2 boss Phillip Meeson said: ‘We would expect second half trading to be in line with last year. Booking levels remain encouraging for the winter. However, we expect a more challenging trading environment next year and will continue to manage the business cautiously in the light of economic conditions.’
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