Sees 'strong booking momentum' as geopolitical tensions ease

Jet2 reported “strong booking momentum” as geopolitical tensions ease, citing improved demand for summer travel. For summer, bookings are up 7.1%, based on a 7.7% year-on-year increase in capacity to 19.9 million seats, according to the UK tour operator and third-largest airline. The company also disclosed record passenger numbers of 20.83 million in the year to March, up 5% versus the prior 12 months. Annual revenue rose 4% to almost £7.5 billion, while pre-tax profit fell 7% to £551 million; operating profit of £439.6 million remained “resilient.” Jet2 said results included £11 million of start-up costs for a new Gatwick base and around £50 million of industry-wide cost increases linked to employment taxes and incremental SAF premiums. CEO Steve Heapy said bookings-to-date for summer are 7.1% higher and average load factors in the first four months are 1.2 percentage points ahead.