It reported that average package holiday pricing remained “resilient”, increasing by 6% to £904 per person in the six months to September from £855 in its previous first half “as supply-led inflationary increases were passed on”.
The company declared: “With a material amount of the winter 2024/25 season still to sell, we are currently on track to deliver group profit before FX revaluation and taxation for the year ending 31 March 2025 ahead of market expectations, assuming no material extraneous events in the remainder of the financial year.”
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It added: “Based on company compiled consensus, the board believes the current average market expectations for group profit before FX revaluation and taxation for the year ending 31 March 2025 to be £541m.”
Jet2 observed that “as is typical for the group, losses are to be expected in the second half of the financial year”.
The first half of the company’s financial year takes in the peak summer holiday season.
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Jet2 noted that its total seat capacity increased by 13% to 14.85 million in the six months to September, from 13.2 million in its previous first half, with flown passengers growing by 11% to 13.34 million. This meant an average load factor of 89.8%, down marginally from 90.7% in the previous first half.
It observed there was “a higher proportion of customer bookings being made closer to the date of departure than the prior year”.
Steve Heapy, chief executive of Jet2, said: “Even in difficult economic times, the annual overseas holiday remains a highly valued and eagerly anticipated experience, often taking precedence over other discretionary spend. As a result, we are confident that our proven business model – anchored to delivering a fantastic customer service with a well-established, trusted holiday brand – offers customers a compelling value proposition.”
