Source: ATW Daily News Author: 07/28/2008
Subject Concerned: Airlines
Jet2.com parent Dart Group reported an 8.7 million pounds (US$17.3 million) profit in the fiscal year ended on March 31, up from 700,000 pounds the prior year, as the Leeds Bradford-based LCC expanded considerably. Jet2.com added 19 new routes during the year, bringing its total to 133, and enjoyed a 32% year-over-year increase in passengers to 4 million.
The company said it will realize savings through the February implementation of an in-house reservations system and that going forward it "will continue to focus its growth on the leisure sector of the airline market" and "intends to work closely with the travel trade in making its flight and holiday offerings more accessible to all forms of distribution."
Dart's aviation division operates 21 737-300s and eight 757-200s. It said a 29% year-over-year growth in revenue at the division lagged capacity growth of 35%, although ancillary revenue per passenger rose 48.5% owing largely to increased baggage charges. All expected fuel requirements for passenger operations are hedged for the current fiscal year.
Dart's full-year revenue climbed 23% to 429.3 million pounds while expenses were up 19.6% to 415.8 million pounds. Operating profit increased to 13.5 million pounds from 1.2 million pounds in FY07. Dart Group also includes supermarket and retail distributor Fowler Welch-Coolchain.