- Jet2 shares fall 8.27%.
- Airline reports revenue of £1.23 Billion.
- Jet2 slams “woefully ill-prepared and poorly sourced” airports.
Jet2 announced its results for the year ended 31st of March which caused its share price to fall 8.27% on Thursday.
The airline reported seat capacity increased to 7.01 million from 2 million in 2021, and the average load factor increased to 69.2%. As a result, Jet2 flew a total of 4.85 million single sector passengers, an increase of 267%.
Furthermore, revenue increased to £1.23 billion, but its operating loss was reduced by 4% to £323.9 million. Likely just enough to hurt the budget…
However, Jet2 stated current outlook will depend on how quickly “the broader aviation sector returns to some level of stability” as well as the strength of bookings for the summer and the rest of the financial year.
As for its dividends, Jet2 stated its basic earnings per share from operations were (147p) and due to the losses incurred, the board does not recommend the payment of a final dividend.
Finally, Jet2 has criticised airports for being “woefully ill-prepared and poorly sourced” which has led to chaos across the travel sector.
Well, someone had to say it.
Jet2 engagement and traffic have grown consistently over the last 3 months. Furthermore, with the summer period traditionally being the busiest time for airlines, significant growth can be expected to continue.
Meanwhile, the Semrush graph of Jet2 compares its organic growth and search traffic to that of its competitors. Jet2 is currently a strong competitor against its peers, however does not attain the top spot.