Jet2 owner Dart Group PLC (LON:DTG) has cheered the collapse of rival Thomas Cook by upgrading its full-year expectations amid increased demand for its package holidays.
In a brief trading update, the AIM 100 travel firm said it had continued to see “encouraging levels” of bookings in its leisure travel business, while overall demand in its flight-only and package holiday divisions was “continuing to strengthen”.
READ: Dart Group expects 2020 profit to meet market forecasts despite headwinds
As a result of the improving trends, Dart believed current market expectations for its pre-tax profits “will be exceeded” for the current year.
However, the company added that it remained “very cautious” in its outlook beyond this year, citing industry cost pressures caused by “deepening” Brexit uncertainty and the weakness in sterling, which could, in turn, impact consumer confidence.
This didn’t seem to assuage investors, with the shares soaring 12.5% to 1,052.8p in early trading on Friday.