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Travel industry news

17 Apr 2019

BY James Chapple

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‘Customer uncertainty’ affecting Jet2’s summer bookings

Jet2.com and Jet2holidays parent Dart Group says forward bookings for summer 2019 are being affected by “customer uncertainty” 

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‘Customer uncertainty’ affecting Jet2’s summer bookings

In a trading update issued on Wednesday morning (17 April), the group said the UK’s uncertain economic outlook, particularly in light of Brexit, was having an effect.

 

However, it also stresses it is “optimistic” of achieving full-year 2019/20 results in-line with its forecast “with a considerable way to go in the leisure travel booking cycle”.


Dart says it is also confident of posting profit before foreign exchange and tax for the year to 31 March “slightly ahead of current market expectations”.


The group will issue its preliminary full-year 2018/19 results on 11 July, at which point it has promised a “fuller outlook” for its “all-important” summer 2019 trading window.


“We highlighted in our November 2018 interim results announcement that due to the overall uncertain UK economic outlook, particularly in relation to Brexit, we remained unclear how demand would develop in the medium term.


“We are now seeing summer 2019 forward bookings in our leisure travel business, though positive, reflect some consumer uncertainty and that pricing for both our flight-only and package holiday products is more competitive.”


Looking ahead, the group added: “Due to the continued success of our growing leisure travel business, the board expects group profit before foreign exchange revaluation and taxation for the year ended 31 March 2019 to be slightly ahead of current market expectations.


“With a considerable way to go in the leisure travel booking cycle, the board remains optimistic of meeting current market expectations of group profit before foreign exchange revaluation and taxation for the year ending 31 March 2020.”

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