Airline and package holiday operator Jet2 has posted an upbeat message to investors in which it expects pre-tax profits of between £387m and £392m this year.
The Leeds Bradford Airport-based plc said sale seat capacity for the summer is currently 7.2% higher than last summer at 15.26m seats. And it said forward bookings were "encouraging" with 75% of customers opting for the firm's package holiday deals.
Jet2 said that while it was facing input cost pressures including fuel, carbon taxes, a strengthened US dollar and wage increase, it had managed to price packages and flights effectively, generating "encouraging" margins per customer. Despite the generally bullish view, the airline said there was a continued threat of summer European air traffic control disruption.
Read more: BAE Systems awarded £656m Tempest contract extension for next generation combat aircraft
The firm said: "Just as we did last year, we invested well ahead of the summer season to ensure we have adequate, fully trained resources to operate with our normal high standards of customer care. In addition, we have increased our operational resilience by taking control of handling operations at a further two of our UK bases - Bristol and Newcastle - meaning we now self-handle at seven of our ten UK bases and are therefore not reliant on third parties for these aspects of our operations.
"In summary, we are pleased with the current position, but with the new financial year having only recently commenced, the continued threat of summer European air traffic control disruption, and over 40% of the summer 23 season plus the majority of winter 23/24 still to sell, it is too early to provide definitive guidance as to group profitability for the financial year."
Jet2 is due to announce preliminary results for the year to the end of March 2023 on July 6.
READ NEXT:
British Steel's new £30m ship unloaders welcomed to Immingham Bulk Terminal
TransPennine Express – Transport Secretary says no option is off the table as contract expiry nears
Co-op investing £240m into membership offer and vows lower food and drink prices
Production of pioneering electric Volta truck begins with Paneltex providing cargo bodies
- Read more Yorkshire & Humber business news here
