Jet2 bullish about 2024 as it issues upbeat profit forecast

Jet2 was also bullish about summer 2024. It said: “On sale seat capacity for summer 2024 is currently 12.5% higher than summer 2023 at 17.2 million seats. Forward bookings to date are encouraging, with average load factors 1.5ppts ahead of summer 2023 at the same point.”

It added package holiday customers, which yield a higher margin than seat-only, were up 17%, “with the package holiday mix of total departing passengers at approximately 77% and in line with summer 2023 at the same point in the booking cycle”.

It continued: “While pricing for summer 2024 across both our leisure travel products is currently showing an increase compared to the same period last year, we remain mindful of the current macro-economic and geo-political environments and how these could impact future consumer spending.”

Jet2 also said bookings at its new Liverpool base, where flights start on 28 March, “have been pleasing”.

The operator’s chief executive Steve Heapy added: “We are pleased with how the 2024 financial year is ending and are encouraged by early bookings for summer 2024.

“Whilst recognising that there are many demands on consumer discretionary incomes, we believe that our customers cherish their time away from our rainy island and want to be properly looked after throughout their holiday experience.” 

Jet2 will provide a further update in April ahead of full year results on 11 July.