Record profits for airline Jet2
[September 12th 2008]
As XL goes into administration another airline and package holiday business, Jet2.com, has been quick to point out that it has made record profits.
Jet2.com and its package holiday business Jet2holidays.com is owned by Dart Group, which also owns distribution company Fowler Welch-Coolchain.
Jet2.com chief executive Philip Meeson says: “We have had another great summer, our aircraft have been full and we have made record profits, in fact we are expecting our parent company’s half-year profits to be in excess of £30 million”.
“We have been able to hedge our fuel, plan ahead and ensure we offer Jet2.com’s low fares to our customers’ favourite European leisure destinations from our six regional UK bases. And we have recorded our best ever load factors – in excess of 90 per cent,” adds Meeson.
Jet2.com is based at Leeds Bradford airport and also offers flights from five other UK airports – Manchester, Newcastle, Blackpool, Edinburgh, and Belfast International. Destinations include Majorca, Ibiza, Tenerife, Lanzarote, Malaga, Alicante, Barcelona, the Algarve and Geneva.
Speaking about the failure of XL and other operators, Meeson says: “The airlines and tour operators that have had problems have been those with a bias towards trans-Atlantic and long haul flights, as was the case with Zoom, Silverjet and XL, each of which operated frequent scheduled services to several destinations in North America, and this is an entirely different market to ours.”
In a statement, parent company Dart Group says: “By focusing on its core European leisure routes, our scheduled airline, Jet2.com, is delivering improved yields coupled with load factors on these routes in excess of 90% in the peak months. Trading performance has been supported by increased charter volumes, strong cost control, and a conservative approach to fuel hedging”.
“Our ATOL-protected holiday company, Jet2holidays.com, continues to grow strongly by meeting our customers’ demand for a package holiday from their local airport,” the statement continues.
The collapse of XL has prompted increased speculation about which airline or tour operator will be next to go under.
Written by: Nick Purdom
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