Blackpool airport is to close on 15th October if a buyer cannot be found. Jet2 operated to 11 destinations and whenever I used it the planes were pretty full. Also the fares from here were higher compared to say Manchester playing on the convenience and handiness of Blackpool and the fact it's £90 return in a taxi to Manchester. With this airport gone customers loyalty to Jet2 will vanish.
Some news from TTG Digital about Dart ..... S Heapy, CE. "the tail end of summer is looking slightly more encouraging and winter 2014 is pretty much where we expect to be, and summer 2015 within expectations", “Hopefully we’ve been through the worst and the market will recover.” The same problems have been encountered by other operators, with talk of overcapacity running though the industry. However, this threat subsided as the summer went on - enough for the group chairman, Philip Meeson, to talk of “uplift” in the market in September.
16 Jul '14
550k shares for 1.05m today and a slight rise in SP. Good to see a gradual increase since 180p on release of year end results. Still not sure how the hedging/exchange rate issue will affect future profits and am still baffled by the accounts and lack of transparency on this from last year. Hopefully business on all fronts is continuing to grow.
26 Jun '14
One profit warning may/often
[....]...fill in the cliche "Outlook Taking people on holiday, whether through the sale of a flight or a full holiday package, and the distribution of produce and prepared foods sold by supermarkets, are much-needed, high-potential businesses. Our scale, experience and competitiveness in each sector gives us optimism in our outlook for the long-term growth of the Group. In relation to the current financial year, we are finding demand for leisure travel, this summer, to the markets we serve, less buoyant than we would have hoped for and market pricing weak. This may be due to the weather, the World Cup, or because the financial recovery hasn't yet taken hold in our home territory, the North of the UK. Unfortunately, therefore, in view of the current visibility we have of our remaining summer 2014 forward bookings, we now expect the current year operating profit outturn to be lower than previous market expectations."
26 Jun '14
Tough to value
cos of all the hedges...so total net assets fell (and comprehensive income was negative) ...the op profit is not gauge of value creation here imv...with plenty going on elsewhere (hedges and leases in particular)
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