Jet2 has reported summer 2023 on sale seat capacity at 15.26m seats, remained largely consistent with expectations, which is 7.3% higher than last summer season. There was a small reduction in capacity primarily a result of the recent Rhodes wildfires.
The months of July and August experienced “strong late booking momentum” said Jet2 adding that September was currently showing a similar trend. Jet2’s average load factors are now 0.5 percentage points (ppts) behind summer 2022 at the same point (at 6 July 2023: 0.8ppts behind).
Jet2 reports that winter 2023/24 forward bookings are “encouraging” with average load factors 0.3ppts ahead of those of winter 2022/23 at the same point, against a 20.4% seat capacity increase to 4.47m seats. For both seasons, average pricing to date for both package holidays and flight-only products has “remained robust” said the airline.
Based on current visibility and having absorbed approximately £13m of cost and lost margin from the Rhodes wildfires and the recent NATS air traffic control failure, Jet2 stated that it was “on track to exceed current market expectations for Group profit before foreign exchange revaluations and taxation for the year ending 31 March 2024(1), with the outcome presently expected to be in the range of £480m to £520m”.