‘Cautious outlook’ for Jet2.com owners as winter bookings fail to match seat capacity growth
The chairman of Jet2.com’s owners – Dart – will tell the listed firm’s AGM today that its winter season forward bookings have yet to match its seat capacity growth and that it remains “very cautious in our outlook” due to impacts on consumer confidence.
Executive Chairman of the Leeds-headquartered firm, Philip Meeson, will add: “Therefore pricing for both our leisure travel products will need to remain continually enticing.”
Meeson will tell shareholders: “With still some way to go in the Leisure Travel winter booking cycle, the Board remains optimistic that current market expectations for Group profit before foreign exchange revaluations and taxation for the year ending 31 March 2020 will be met.
“Looking further ahead, given the cost pressures the Travel industry is facing in general, which will intensify given the weakness in sterling, plus the deepening Brexit uncertainty and the impact this may have on consumer confidence, we remain very cautious in our outlook.”
He will add that in the firm’s Leisure Travel business, the later booking trend has continued, with overall demand for both its Flight-Only offering and Package Holiday product “continuing to strengthen.”
Package holiday customer numbers as a proportion of total departing customers have increased for summer 2019 to date.
He will say that “encouraging progress” continues to be made at Fowler Welch, its Distribution & Logistics business, with new commercial wins improving the quality of revenue and operational excellence ensuring customer satisfaction.
