Jet2 Raises Fiscal 2023 Profit Guidance
April 20 2023 - 3:10AM
Dow Jones News
By Kyle Morris
Jet2 PLC on Thursday raised its fiscal 2023 adjusted pretax
profit expectations and said that average load factors for summer
2023 are currently 0.7 percentage points ahead on year.
The leisure-travel group said that it now expects pretax profit
before foreign-exchange revaluation for the year ended March 31 of
387 million-392 million pounds ($481.4 million-$487.6 million).
On Jan. 26, it said it saw profit before foreign-exchange
revaluation and taxes of GBP370 million-GBP385 million for the
year.
Pricing for package holiday and flight-only products remains
strong and margins per booked passenger are encouraging, despite
input cost pressures--including fuel, carbon taxes, a strengthened
U.S. dollar--and wage increases.
Sale seat capacity for summer 2023 is 7.2% higher on year at
15.3 million seats. Forward bookings remain encouraging.
It is too early to provide definitive guidance on fiscal 2024
profitability due to the early stage of the year and the threat of
summer European air traffic control disruption.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
April 20, 2023 02:55 ET (06:55 GMT)
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