Jet2 profits take off on strong demand
A SURGE in bookings for the coming winter and next summer has helped Jet2.com operator Dart Group to a 37% rise in pre-tax profits.
The Jet2.com airline flew 400,000 more passengers in the first half of its trading year, 3.6m in total, with more than two thirds of the increase down to the growth of its holiday business Jet2holidays.
In the North West it operates from Manchester and Blackpool.
Dart Group, based at Leeds Bradford Airport, is planning to increase services from all its bases for the summer season, growing capacity by 11% overall.
Pre-tax profits for the half year grew from £41.6m to £57m while turnover increased from £445.7m to £584.5m.
The company also operates logistics business Fowler Welch where revenues grew 8% in the six months to the end of September compared to the same period last year.
Chairman Philip Meeson said the company was expecting to beat market forecasts for the full year.
“Performance in the first six-month trading period has been positive with strong Jet2.com Summer passenger volumes underpinned by the continued successful growth of Jet2holidays and no doubt assisted by the particularly poor British summer weather,” he said.
“Fowler Welch has traded in line with expectations in a sector that continues to experience tight margins.”
Fowler Welch enjoyed a 24% rise in revenues for its ambient distribution arm based around its hub in Heywood, Greater Manchester.
