Jet2 parent reveals Covid hit
The parent of Jet2 and Jet2holidays remains confident the company will emerge from the pandemic crisis ‘even stronger’ despite taking a £108.4m hit from Covid.
In its preliminary results for the year to March 31, Dart Group executive chairman Philip Meeson said despite the uncertainty, current monthly load factors for winter 20/21 are ‘satisfactory’ and summer 2021 bookings are ‘encouraging’.
And he said sales are showing a materially increased package holiday mix.
"Whilst flight-only remains very important, our higher margin package holiday business has tremendous further potential as our reputation for providing ‘package holidays you can trust’ strengthens," he said.
"This gives us every confidence that with our focused approach, our customers will continue to be keen to travel with us from our rainy island to the sun spots of the Mediterranean, the Canary Islands and to European Leisure Cities and Jet2 will emerge from this crisis an even stronger company."
He said the group has learnt that even when times are tough and disposable incomes tight, one of the very last discretionary items to be sacrificed is the family holiday.
Dart Group says higher margin package holiday business has tremendous further potential
But Meeson added: "Group performance for the financial year ending 31 March 2021 is largely dependent on the level of flying permitted for the remainder of the summer 2020 period, as well as performance in the second half of the 2021 financial year, periods for which we currently still have limited visibility."
Dart Group suffered a £108.4 million exceptional charge over fuel hedging and £8.1m loss on foreign exchange revaluations.
Annual pre-tax profit for the 12 months to March 31 was down 11% to £147.7 million from £166.5 million in the previous financial year.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive