Jet2 reports uptick in demand for package holidays
James ChappleJet2.com and Jet2holidays has reported "encouraging" business for summer 2022, with packages making up a higher proportion of bookings to date, but warned sales for the coming winter are still lagging behind on-sale capacity.
Ahead of the company’s AGM, executive chair Philip Meeson revealed the airline and operator was operating to 32 green and amber list destinations, a programme amounting to around 55% of pre-Covid summer 2019 capacity.
Meeson said owing to the government’s three-weekly traffic light reviews, customers were booking "significantly closer" to departure, but stressed Jet2 was being rewarded for its nimbleness.
"Despite the limited booking visibility, pleasingly, we have generated positive financial contribution from the flying to date, supported by our quick to market, flexible operating model."
However, Meeson warned the slow booking environment for winter 2021/22 – forecast by the group in early July – had not abated. "As a result, bookings have yet to match our on-sale seat capacity and therefore pricing for both our leisure travel products – package holidays with Jet2holidays and flight-only seats with Jet2.com – will need to remain consistently enticing," said Meeson.
Jet2.com and Jet2holidays’ winter 2021/22 capacity will remain under continuous review, Meeson added.
The airline and operator is currently planning to fly to all of its most popular leisure destinations next summer, according to Meeson, who said bookings to date were "encouraging".
Average summer 2022 load factors are ahead of where they were at the same point prior to the summer 2019 season, with a "material increase" in the number of package holiday customers occupying the summer 2022 seats Jet2 has placed on sale.
"We remain optimistic that summer 2022 will be a considerable improvement on both summer 2020 and summer 2021," said Meeson.
As of 30 August, Jet2.com and Jet2holidays had a total own cash balance, excluding customer deposits, of £1.52 billion.
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