The owner of Jet2 and Jet2holidays today issued a “very cautious” outlook in the face of industry price pressures and deepening Brexit uncertainty.
Philip Meeson, executive chairman of the holiday group’s parent company Dart Group, revealed that winter forward bookings have yet to meet capacity growth.
In a statement to the company’s annual general meeting, he said: “With still some way to go in the leisure travel winter booking cycle, the board remains optimistic that current market expectations for group profit before foreign exchange revaluations and taxation for the year ending 31 March 2020 will be met.
More: Jet2holidays bolsters marketing amid Brexit delays [March 19]
Jet2holidays and Jet2 top latest customer satisfaction scores [July 19]
Big Interview: Steve Heapy, chief executive of Jet2holidays [Dec 18]
“Looking further ahead, given the cost pressures the travel industry is facing in general, which will intensify given the weakness in sterling, plus the deepening Brexit uncertainty and the impact this may have on consumer confidence, we remain very cautious in our outlook.”
A late booking trend for flight-only and package holidays for this summer has continued with overall demand “continuing to strengthen”.
Meeson added: “Encouragingly, package holiday customer numbers as a proportion of total departing customers have increased for summer 2019 to date.
“Winter season forward bookings have yet to match our seat capacity growth, therefore pricing for both our leisure travel products will need to remain continually enticing.”
A further trading update is to be to delivered with interim financial results on November 21.
More: Jet2holidays bolsters marketing amid Brexit delays [March 19]
Jet2holidays and Jet2 top latest customer satisfaction scores [July 19]
Big Interview: Steve Heapy, chief executive of Jet2holidays [Dec 18]
