Jet2 has seen an 18% rise in flight-only bookings for this summer, compared to a 13% rise in the number of packages sold.
As a result, the percentage of Jet2 customers buying packages has dipped one percentage point to 74%.
In its latest trading update, Jet2 said 55% of its 17.1 million seats for summer 2024 are sold, with pricing showing only a ‘modest’ increase compared to same period last year.
It admitted that pricing has been ‘more competitive’ in recent weeks, particularly for April and May departures.
While Jet2 said it is ‘pleased with its progress for 2025 to date’, it sounded a warning that ‘current macro-economic and geo-political environments’ could impact future consumer spending.
“Consequently, and with over 40% of summer 2024 and the majority of winter 2024/2025 seasons still to sell, it is too early to provide guidance as to Group profitability for FY25,” it added.
Looking ahead to the peak summer season, it said: “Operationally we are well set for a successful summer 2024 season with the required number of aircraft to support our flying programme and sufficient, fully trained resources to operate our end-to-end product proposition to our normal high standards of customer care.
“We are also over 90% hedged for fuel for the season and over 80% for the full financial year in line with our well-established hedging policy, providing important cost certainty given unfolding events in the Middle East.”
The Jet2 board said it expects its pre-tax profit for the year to the end of March 2024 to be between £515m and £520m, up 33% year on year.
The Group will announce its preliminary results for the year ended 31 March 2024 on 11 July 2024 at which point it will provide a fuller outlook for the summer 2024 trading period.
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As a result, the percentage of Jet2 customers buying packages has dipped one percentage point to 74%.
In its latest trading update, Jet2 said 55% of its 17.1 million seats for summer 2024 are sold, with pricing showing only a ‘modest’ increase compared to same period last year.
It admitted that pricing has been ‘more competitive’ in recent weeks, particularly for April and May departures.
While Jet2 said it is ‘pleased with its progress for 2025 to date’, it sounded a warning that ‘current macro-economic and geo-political environments’ could impact future consumer spending.
“Consequently, and with over 40% of summer 2024 and the majority of winter 2024/2025 seasons still to sell, it is too early to provide guidance as to Group profitability for FY25,” it added.
Looking ahead to the peak summer season, it said: “Operationally we are well set for a successful summer 2024 season with the required number of aircraft to support our flying programme and sufficient, fully trained resources to operate our end-to-end product proposition to our normal high standards of customer care.
“We are also over 90% hedged for fuel for the season and over 80% for the full financial year in line with our well-established hedging policy, providing important cost certainty given unfolding events in the Middle East.”
The Jet2 board said it expects its pre-tax profit for the year to the end of March 2024 to be between £515m and £520m, up 33% year on year.
The Group will announce its preliminary results for the year ended 31 March 2024 on 11 July 2024 at which point it will provide a fuller outlook for the summer 2024 trading period.
The post Jet2 reveals recent softening of prices and rising demand for flight-only appeared first on Travel Gossip.
Continue reading...
