(Alliance News ) - Jet2 PLC on Thursday said it expects to beat current market expectations for financial 2023 ending March 31, with pre-foreign exchange revaluation pretax profit between £370 million and £385 million.
Market consensus for profit before FX revaluation and taxation is £317 million.
The Leeds, England-based holiday airline said average load factors are now slightly ahead of Winter 2018 at the same point, against a 24% increase in seat capacity ‘with pricing and margins significantly higher’.
It said the mix of Package Holiday customers has remained consistent at about 60% of total departing passengers for the season.
Additionally, Jet2 noted that it is facing input cost pressures including fuel, carbon a strengthened US dollar and wage increases.
Looking ahead, the company said on-sale seat capacity for summer 2023 is currently 6.6% higher than summer 2022 at 15.2 million seats.
Back in November, Jet2 had said revenue multiplied to £3.57 billion in the six months that ended on September 30, from £429.6 million the year before. It swung to a pretax profit of £450.7 million from a loss of £205.8 million.
It will announce financial 2023 results on July 6.
Shares were up 2.9% at 1,211.00 pence each on Thursday morning in London.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
