Jet2 reports record profits and price rises for summer holidays

Jet2, a leading travel group, has reported a significant increase in profits for the past year, with pre-tax profits soaring by 43% to £529.5 million. This surge in profits was attributed to a rise in passenger numbers by 9% to a record 17.7 million, coupled with an 11% increase in the average price of its package holidays to £830. The group's revenue also saw a substantial rise of 24% from £5 billion to £6.2 billion. In response to soaring cost inflation, Jet2 has indicated that customers can expect further 'modest' price increases for flight-only and package holiday deals this summer. Despite these increases, the group reassured customers that deals will remain 'attractive', especially with the current trend of late bookings. Jet2 emphasized the resilience and popularity of end-to-end package holidays, stating that it remains a priority for customers even in uncertain economic times. Jet2 has expanded its holiday programme by 12.3% for the upcoming summer season, reaching 17.16 million bookings, with package holiday reservations up by 7% and flight-only sales increasing by 16%. However, the group refrained from providing a profit outlook for the current financial year due to the late booking profile and the remaining seat capacity for the winter of 2024-2025. Despite economic and geopolitical uncertainties, Jet2 remains optimistic about the demand for its holiday products and the attractiveness of its deals for customers.