CodeGen
http://admin.travelmole.com/images/stories/2009/images/Jet2Wing(1).png

Published on Wednesday, March 11, 2020

Jet2 says bookings still up year-on-year






Jet2 has warned that its profits for the year to the end of March 2020 will be hit by capacity reductions for this summer.


In a trading update this morning, its parent company, Dart Group, said profits for the full year ending March 31 were 'significantly' ahead of current market expectations.


However, it said future capacity reductions for the 2020/21 financial year will result in a proportion of its existing hedging contracts becoming ineffective, thereby impacting those profits.


Until very recently, customer demand was consistently strong and in January and February bookings were well ahead of its 16% summer capacity increase, said Jet2, but it has seen demand weaken in recent weeks as the coronavirus spreads across Europe.


Bookings remain ahead of this time last year, but the company said: "Given the limited visibility on the impact of Covid-19, the Board is currently unable to determine how this will effect Group profit before foreign exchange revaluation and taxation for the financial year ending 31 March 2021.


"We continue to monitor the situation carefully and are taking proportionate actions to underpin the stability of the business, which includes reducing capacity on some routes where warranted, but always keeping at front of mind the need to ensure our customers experience the holidays they deserve."

Story Image



Your Comments

, be the first to post a comment.
Your email:






Email other comments made to this story


NOTE: Comments are subject to admin approval before being posted.
Mole Poll
Are you worried about redundancy ?
YES 52.11 %
NO 47.89 %

Thank you for your vote



What is GoodtoGo?

Submit your news
or special offer


Current UK Special Edition



Current US Special Edition



Current Asia/Pacific Special Edition



LATEST 'MOLE VIDEOS

Recovery Update: Cambodia, Vietnam, Myanmar, Laos, & China , with Mekong Tourism (Aug 5 )

James Thornton CEO of Intrepid Travel talks exclusively to TravelMole

Pure Michigan is prepared, protected and open for business - Next step International arrivals

Travel Industry Virtual Wellness Day Video

UPCOMING EVENTS
\m