Jet2 has seen the proportion of package holiday passengers rise this summer to almost three-quarters of the total.
The figure is revealed in the company’s annual report for the year to March.
Chief executive Steve Heapy, writing in in the report, said: “For the reporting period, seat capacity increased 10% to 19.73 million.
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“Although customer bookings were closer to departure, the business achieved a healthy average load factor of 89.8% (2023: 90.5%) with growth in average pricing for both our leisure travel products robust.
“Higher margin per passenger package holiday customers grew 15% to 6.08 million (2023: 5.29 million) and were a materially higher mix of total departing passengers at 68.3% (2023: 64.9%), with flight-only passengers reducing by 1% to 5.61 million (2023: 5.69 million).”
He added: “Our long-term ambition remains as relevant today as it has always been: to be the UK’s leading and best leisure travel business, which demands a clear strategic vision and an unfaltering customer focus, accompanied by consistent, and often material, investment.
“Economically, socially and culturally, travel is a force for good and we are extremely proud of our positive effect in the UK and in communities around the world.
“However, it is also essential to recognise and act upon the environmental impact associated with travel.”
Looking forward, he said: “Summer 2024 on sale seat capacity is currently 12.3% higher than summer 2023 at 17.16 million seats.
“Booked to date package holiday customers are up by 7%, representing 72% of overall flown passengers, with flight-only passengers increasing by 16%. Consequently average load factor is currently 73.4% (2023: 75.2%).
“Passengers are currently booking much closer to departure and therefore, pricing for our flight-only and package holiday products must remain attractive.
“Summer 2024 pricing to date for both products is showing a modest increase, helping to offset in part previously announced input cost increases.
“As ever, we remain mindful of the current macro- economic and geo-political environments and how these may influence future consumer spending patterns.
“However, we continue to believe that the end-to-end package holiday is a resilient and popular product which remains high on the priority list for our customers, even during uncertain economic times.
“Year to date the business is trading in line with management’s expectations but given the very late booking profile and the peak summer months of July, August and September not yet complete, plus the majority of winter 2024-2025 seat capacity still to sell, it remains premature as is always the case at this time of year, to provide definitive guidance as to group profitability for the financial year ending 31 March 2025.”
Heapy saw his annual pay top £3 million in the last financial year, the report disclosed.
His total renumeration package, including a basis salary of £849,000, pension, share rewards and other benefits, rose from almost £2.4 million in the previous financial year.
This came as the company reported a net annual profit up by more than £100 million year-on-year to £399.2 million.
Group chief financial officer Gary Brown was the second highest paid director with a total annual package worth £2.3 million.