Jet2 parent Dart Group has said the boost in demand following the collapse of Thomas Cook will likely ensure it delivers full-year profits in excess of current market expectations.
Dart Group on Friday (11 October) said its leisure travel business – comprising airline Jet2.com and tour operator Jet2holidays – was experiencing “encouraging levels” pf later season bookings.
Reiterating its comments dating to its early-September AGM, Dart Group said “overall demand” for both its flight-only and package holiday offerings – post-Cook – continued to strengthen.
“We have experienced increased levels of customer demand since Thomas Cook Group entered into compulsory liquidation in late September 2019 and we continue to assess the impact this will have for our business in the coming months,” said Dart Group in a trading update.
“Given the strengthening booking trend, the board now believes current market expectations for group profit before foreign exchange revaluations and taxation for the year ending 31 March 2020 will be exceeded,” the group added.
The board of Dart Group will provide a further update upon publication of its interim results on 21 November.
The group did, however, sound a note of caution regarding the external pressures impacting the wider travel sector.
“Looking further ahead, our comments from the AGM remain - given the cost pressures the travel industry is facing in general, which will intensify given the weakness in sterling, plus the deepening Brexit uncertainty and the impact this may have on consumer confidence, we remain very cautious in our outlook.”
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