TRAVEL WEEKLY BUSINESS
JET2 PARENT DART REPORTS 10% RISE IN HALF-YEAR OPERATING PROFIT TO £88M
Phil Davies
Jet2.com said it was optimistic about current trading after posting a 10% half-year increase in operating profit. The airline and operator’s parent Dart
Group reported an 8% rise in
Jet2.com flight-only passengers to 3.07 million, while Jet2holidays handled 777,000 holidaymakers, a rise of 21% year-on-year. The overall net ticket yield of £79.99 was
1.6% down as early-season demand was “slower than expected”. The operator said this was “particularly pronounced” in the Canary Islands and eastern Mediterranean destinations.
Customers on package holidays now
make up 33% of all passengers flown, up from 31% at the same time last year, the company reported. Underlying operating profit for the two businesses grew by 10.6% to £87.8 million in the six months to September 30 on revenue up by 16% to £824.1 million.
Jet2.com operated 54 aircraft from its eight northern bases over the summer. Two aircraft that were based at Blackpool
have been redeployed to other bases following the airport’s closure in October. Chairman Philip Meeson said: “We
have been encouraged by the group’s underlying operating profit growth of 10%, particularly in light of the less-than-buoyant consumer demand and weak market pricing experienced in the early summer months. “And, with winter 2014-15 leisure
travel bookings performing in line with expectations, the board is optimistic that
NORWEGIAN SEALS ACQUISITION OF PRESTIGE CRUISES
Norwegian Cruise Line Holdings has completed the acquisition of Prestige Cruises International. Norwegian’s plan to purchase Prestige, which operates Regent Seven Seas Cruises and Oceania Cruises, first revealed in September, has now been completed, growing the capacity of the world’s
“We’re optimistic full-year expectations will be achieved”
current market expectations for full-year operating profit, before adjusting for the exceptional provision of £17 million, will be achieved.”
The company has introduced four destinations for summer 2015: Antalya in Turkey, Enfidha in Tunisia, Kefalonia in Greece, and Malta. As previously reported, Dart Group has put aside £17 million towards possible passenger compensation claims for flight delays over the past six years. The move follows the Supreme Court’s rejection of the company’s appeal against a Court of Appeal ruling, which held that a technical defect was not an extraordinary circumstance and delay compensation may be payable under EU Regulation 261.
third-largest cruise operator to almost 20%. The deal was done in cash and stock
for a total transaction consideration of $3.025 billion, including the assumption of debt. Kevin Sheehan, president and chief executive of Norwegian Cruise Line Holdings, said: “While for years we have competed successfully with our one brand in an increasingly consolidated industry, our acquisition of Prestige creates a new cruise
CRUISE GIANTS ROYAL AND CARNIVAL TARGET
THE CHINESE MARKET The world’s two largest cruise operators reiterated their focus on the Chinese market with details of a number of confirmed and potential joint ventures. Carnival Corporation is pushing forward its
growth plans in Asia through a joint venture with Italian shipyard Fincantieri to build cruise ships for the Chinese market. This follows the cruise giant’s agreement to
work on a potential joint venture to build ships in China with the country’s largest shipyard, the China State Shipbuilding Corporation. Meanwhile, Royal Caribbean Cruises expects to
start operating a joint-venture cruise line targeting Chinese holidaymakers by next summer. The new line, SkySea Cruises, will initially operate one ship, with the potential for more to be added. Sales and marketing support for the cruises have
started as part of the deal between Royal Caribbean and Chinese online travel giant
Ctrip.com. Royal Caribbean and Ctrip will each own 35% of the new company, with the balance being owned by SkySea management and a private equity fund. The number of cruise passengers from China is
predicted to grow to 4.5 million by 2020, with the country tipped eventually to become the world’s largest cruise market.
Royal Caribbean is setting up a brand for the
Chinese market
operator with a range of complementary offerings as diversified as any in the industry. “We now shift our focus from planning for the successful integration of these organisations to the implementation phase, with an organisational structure that allows for the realisation of significant synergies while maintaining the integrity of the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands that have made each a success in their respective segment.”
❯ Norwegian Escape plans, page 19 27 November 2014 —
travelweekly.co.uk • 79
“Our acquisition
creates a cruise operator as diversified as any”
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84