Jet2.com’s owner anticipates soaring profits

Jet2.com owner Dart Group says it expects profits to be ahead of current market expectations for the year to March due to the continued success of its growing leisure travel business.

The airline quickly made a success of its 2017 launch at Birmingham Airport, where it operated its Jet2.com and Jet2holiday divisions. It has 34 summer routes and 22 winter routes already confirmed for the year ahead.

The business, which has its headquarters in Leeds and specialises in holiday travel and freight operations with its Fowler Welch group company, said: “Due to the continued success of our growing Leisure Travel business and a more normalised pricing environment after the heavy discounting in the market over the past year, the board now expects group underlying profit before taxation for the year ending 31 March 2018 to be materially ahead of current market expectations.”

Looking ahead to its 2019 financial year, the group said forward bookings in its leisure travel business for summer 2018 are “presently satisfactory” and it said it remains encouraged by the performance of its two new operating bases at London Stansted and Birmingham airports.

“Our distribution and logistics business, Fowler Welch, continues to focus on growing its revenue pipeline and developing existing and new business opportunities.

“It is still early in the leisure travel booking cycle and we remain cautious on pricing. However, given the satisfactory forward bookings and the execution of our growth strategy, the board currently expects the group’s trading performance for the year ending 31 March 2019 to be broadly in line with the current financial year.”