Norwegian sets out 787 contingency plan
6th March 2013
Shrugging off "a difficult return to operations", leisure travel business and Jet2.com owner Jet2 plc said this week that profit for the first half of 2022 increased to £505 million, a major turnaround after the £195.1 million loss reported for the same period last year and 44% ahead of 2019.
After tax, Jet2's profit came to £356 million for H1 this year, which refers to the six months to the end of September. The results followed what the group said was "buoyant customer demand" and the announcement recently that it would buy 35 new Airbus 320/321 aircraft.
However, the group flagged "supply chain issues" that hit operations mid-year and warned it "faces input cost pressures including fuel, carbon, a strengthened US dollar and wage increases".
Group chairman Philip Meeson said business "has continued its encouraging recovery following the reopening of international travel in early 2022", citing "strong customer demand, in particular for package holidays, plus a robust pricing environment and considered cost control".
But Meeson said that supply chain challenges had meant lower availability of in-flight items for purchase. He also conceded that some customers had "faced frustrating delays" due to disruptions "across the aviation sector" and a "lack of planning" by airports.
Losses could be expected for H2 2022, the group warned, due to investments needed ahead of the Summer 2023 holiday season, including in new aircraft.