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Jet2 benefits from 'significant' investments made ahead of peak summer period

Airline Jet2 said on Thursday that its leisure travel business was continuing to benefit from "significant" investments made in the lead-up to summer.

Jet2

Source: Sharecast

Jet2 said its on-sale seat capacity for the peak summer season remained approximately 14% higher than in Summer 2019, with no cancellations made due to any internal resource constraints.

Overall customer bookings, though said to be "a little later than normal", remained "consistently strong", with package holiday customers continuing to display "a materially higher" mix of total departing passengers, being up 13 percentage points, while average load factors were only 1.4 percentage points behind Summer 2019 at the same point.

Jet2 also noted that the "difficult" return to normal operations experienced in early Summer 2022 due to the lack of planning and investment by many airports and associated suppliers, has since "abated significantly".

The AIM-listed group also noted that Winter 2022/23 forward bookings were "satisfactory", with average load factors matching those of Winter 2019/20 at the same point, against a 2% seat capacity increase and with pricing currently "robust".

As of 0945 BST, Jet2 shares were up 2.29% at 874.0p.

Reporting by Iain Gilbert at Sharecast.com

Jet2 ( JET2 )

Isin: GB00B1722W11
Exchange: London Stock Exchange
Sell:
1,777.00 p
Buy:
1,786.00 p
Change: -28.00 ( -1.55 %)
Date:
Prices delayed by at least 15 minutes

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