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BUSINESS NEWS


Jet2 hails ‘strong’ late bookings in July and August


Jet2 reported a “slight increase” in its capacity for this summer since early July in a trading update last week, taking capacity for the season to 17.17 million – 12.4% up on summer 2023. The company reported package


bookings to date up 8% year on year at just over 70% of the total, and flight-only passengers up 17% following “strong late booking momentum” in July and August. It noted package holiday pricing


“remains resilient and continues to show a modest increase on last year”, but described flight-only yields as “softer”.


Jet2 package bookings are up 8%


EasyJet calls for modernisation of Europe’s airspace to cut emissions


Modernisation of Europe’s airspace could cut 18 million tonnes of CO2 emissions a year, according to an analysis by easyJet. The study of a projected


Jet2’s average load factor for the


summer was 1.2 percentage points down year on year, but had improved from 1.8% down on July 11. It described bookings for the


coming winter as “encouraging”, with 15% (5.14 million seats) more capacity on sale than last year. The proportion of winter package holiday bookings was up almost 2%, with “a modest increase” in prices. Jet2’s capacity for summer 2025 is currently 6.4% up on this year.


airspace modernisation found easyJet alone could cut emissions by more than 10%. EasyJet deployed AI to study the


impact of airspace inefficiencies on CO2 emissions of all its flights over 12 months to July this year. The study suggested inefficiencies in airspace management increased emissions by 10.62% over the year. It found excess CO2 was


produced in all phases of flight, with the descent phase particularly


inefficient due to poorly designed airspace around airports, and identified the UK, Italy, France, Spain and Switzerland as most needing to improve airspace use. It concluded: “The greatest


inefficiencies were in the UK – with seven of the 10 least-efficient routes occurring inbound into Gatwick.” EasyJet chief executive


Johan Lundgren said: “Airspace modernisation is the quickest and most cost-effective way to reduce carbon emissions, but the process is being shackled by bureaucracy. “Policymakers and regulators


need to come together to find a route to unlock these gains now.”


Poland’s eSky buys Thomas Cook Ian Taylor


Thomas Cook’s acquisition by Poland-based eSky Group last week highlighted the entry of a new name in the UK market and a retreat by Chinese corporation Fosun Group. ESky, which claims to be the


leading travel platform in central and eastern Europe, bought Thomas Cook for an undisclosed sum, with Fosun retaining the Cook business in China. Based in Katowice, eSky entered


the UK market in April after securing an Atol for just under 10,000 package sales to the end of September. The purchase of Thomas Cook, which holds an Atol for more than 171,000, allows for considerable expansion. ESky said it would use the


acquisition to develop the Cook brand and grow its market share. Lukasz Habaj, eSky Group


co-founder and chief executive, said travelweekly.co.uk


the acquisition “enables us to expand the Thomas Cook brand across the UK and Europe, as well as transform our business from a flight platform. “The synergy of Thomas Cook’s


brand heritage with our technology will drive Thomas Cook’s growth and strengthen eSky’s position in western Europe [as] part of our strategy to diversify from selling flights to offering package holidays across our existing markets, as well as expand further into western Europe.” Thomas Cook chief executive


Alan French, who will remain with the business, said: “This transaction will inject significant funding into our business as we rebuild the brand and accelerate growth. We’re confident we’ll create a formidable European travel business.” ESky is majority-owned by private


equity fund MCI Capital, which took a 55% stake in the business for


Alan French, Thomas Cook


€33.5 million in 2022. The Polish business reported €801 million in revenue, 3.3 million customers and €18 million in profit in 2023. MCI Capital senior investment


partner MichaƂ Górecki said “This move could boost eSky’s package sales beyond €233 million next year.” Fosun acquired the Thomas Cook


name following the collapse of the Cook group in September 2019. At


the time of Cook’s online relaunch in September 2020, Fosun Tourism Group chief executive Jim Qian said: “Supporting the growth of the brand in China and its relaunch in the UK is a big step in our plan to turn Thomas Cook into a global success story and a key milestone in the development of the Fosun Tourism Group.” Fosun retains ownership of resort


operator Club Med. 12 SEPTEMBER 2024 47


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