Jet2 PLC (AIM:JET2) shares picked up after the tour operator reported a rush of late bookings in July and August that had continued into September though there was still no guidance for its current financial year.
Summer 2024 capacity is 12.4% higher than a year at 17.17 million seats and slightly higher than forecast in July, Jet2 said.
Due to the late bookings, the average load factor [plane seat occupancy] has improved to 1.2ppts behind summer 2023 against 1.8ppts behind in July.
Booked-to-date package holiday customers are up by 8%, representing 70.2% of total departing passengers, with flight-only passengers increasing by 17%, said the statement.
Jet2 added this package holiday bias has offset ‘soft’ flight-only prices, with package prices up slightly on last year.
Winter 2024/25 forward bookings average load factors are also up by 0.8ppts over a year ago with seat capacity increasing by 15.0% to 5.14 million seats.
“The package holiday mix is currently up by 1.9ppts with pricing at this early stage showing a modest increase for both our holiday products.”
Year to date the business continues to trade in line with management's expectations, said the statement.
But with the late booking profile and two summer months to go, “it remains premature to provide definitive guidance as to Group profitability for the financial year ending 31 March 2025”.
“Summer 2025 is already on sale with growth in seat capacity of approximately 6.4% and average load factor at this very early stage slightly ahead of Summer 2024 at the same point.”
Shares rose 1.3% to 1,474p.