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(Alliance News) - Jet2 PLC on Thursday said it has slightly lifted its annual guidance after a strong winter trading season, and maintains a confident outlook going into the summer months.
The Leeds, England-based airline and package holiday operator said forward bookings were strong during the 2023/2024 winter season, citing a 21% increase in on sale seat capacity, as well as passenger sectors booked currently up by 17%.
It also said average pricing for both flight-only and package holiday products was "robust".
"With February and March 2024 bookings displaying similar trends to recent months, plus the benefit of an extra day's flying in February and an earlier Easter, we tighten and slightly raise our guidance for group profit before FX revaluation and taxation for the financial year," Jet2 said.
The firm expects a profit outcome between GBP510 million and GBP525 million for the year to March 31, above its previous GBP480 million to GBP520 million outlook. In the year ended March 31, 2023, Jet2 reported a pretax profit of GBP371.0 million.
Looking ahead, the airline said its on sale seat capacity for the summer 2024 period is currently 13% higher than the previous year at 17.2 million seats. Forward bookings to date are "encouraging", it added, with average load factors 1.5 percentage points ahead of summer 2023 at the same point.
Package holiday customers are up by 17% with the package holiday mix of total departing passengers at approximately 77% and in line with summer 2023 at the same point in the booking cycle, Jet2 said.
Chief Executive Officer Steve Heapy said: "We are pleased with how the 2024 financial year is ending and are encouraged by early bookings for summer 2024. Whilst recognising that there are many demands on consumer discretionary incomes, we believe that our dustomers cherish their time away from our Rainy Island and want to be properly looked after throughout their holiday experience. As a customer focused and much trusted holiday provider, we remain confident they will continue to travel with us to the sun spots of the Mediterranean, the Canary Islands and to European Leisure Cities."
Jet2 will publish its full-year results on July 11.
Shares in Jet2 were up 4.3% at 1,383.46 pence each in London on Thursday morning.
By Sabrina Penty, Alliance News reporter
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