Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Jet2 'encouraged' by early bookings, slightly raises profit guidance

(Sharecast News) - Leisure travel group Jet2 said on Thursday that it was "encouraged" by early bookings for Summer 2024, leading it to "tighten and slightly raise" full-year profit guidance. Jet2 stated that against a 20.5% increase in on-sale seat capacity, Winter 2023/24 forward bookings had "performed well", with passenger sectors booked currently up by 17% and average pricing for both flight-only and package holiday products "robust".

The London-listed group said the mix of higher margin per passenger package holiday customers was "slightly ahead" of last Winter at approximately 60%.

Jet2 also noted that with February and March bookings displaying "similar trends to recent months" it had opted to "tighten and slightly raise" guidance for group profit before FX revaluation and taxation for the year ending 31 March to between £510.0m-525.0m from £480.0m-520.0m.

The company added that on-sale seat capacity for Summer 2024 was currently 12.5% higher than a year earlier at 17.2m seats. Forward bookings to date were said to be "encouraging", with average load factors 1.5 percentage points ahead of Summer 2023 at the same time. Package holiday customers were up 17%, with the package holiday mix of total departing passengers at approximately 77% - in line with Summer 2023 at the same point in the booking cycle.

As of 0935 GMT, Jet2 shares were up 4.37% at 1,384.0p.

Reporting by Iain Gilbert at Sharecast.com

Share this article

Related Sharecast Articles

Hummingbird announces restart at Kouroussa
(Sharecast News) - Hummingbird Resources announced the remobilization of Corica Mining Services at the Kouroussa Gold Mine in Guinea on Friday, after a work stoppage on March 17.
Drilling to start on Oracle's Northern Zone project
(Sharecast News) - Oracle Power announced on Friday that drilling is set to start next week at the Northern Zone Gold Project, 25 kilometres east of Kalgoorlie in Western Australia.
Fulcrum Metals extends date for sale of uranium assets
(Sharecast News) - Fulcrum Metals announced an extension to the completion date for the proposed sale of its Saskatchewan uranium projects to Terra Balcanica Resources on Friday.
PipeHawk subsidiary awarded £0.75m contract
(Sharecast News) - PipeHawk announced on Friday that an unnamed building materials company had awarded its subsidiary QM Systems a significant contract.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.