BUSINESS NEWS


Jet2 has lifted the lower end of its full-year profit forecast from £480 million to £510 million


Big two’s trading figures underline strong demand


Jet2 raises profit forecast while Tui hails ‘stability’ in UK market. Ian Taylor reports The company said “similar trends”


Tui’s first-quarter results and a trading update from Jet2 last week brought confirmation of the current strength of outbound demand. Jet2’s update saw the company


raise its profit forecast for the 12 months to the end of March off the back of strong trading. It noted a 20.5% increase in Jet2 capacity for this winter and reported bookings up 17% to the end of January with average prices “robust” and the proportion of higher-margin package customers “ahead of last winter” at 60% of sales.


48 22 FEBRUARY 2024


for February and March, plus an extra day’s flying on February 29 and the early Easter (Good Friday is March 29) had led it to “slightly raise our guidance for group profit” before tax and foreign exchange costs to between £510 million and £525 million, up from £480 million to £520 million. Jet2.com’s current summer capacity


of 17.2 million seats – meaning 8.6 million return flights – is 12.5% up on last year and the company reported its average load factor 1.5 percentage


points ahead of last summer at the same point, with package holiday customers up 17 percentage points to 77% of the total. It reported pricing “currently


showing an increase” compared with the same period last year but added a cautionary note: “We remain mindful of the current macroeconomic and geopolitical environment and how these could impact


Continued on page 46 travelweekly.co.uk


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