I don't think so. I do remember seeing an article in early July about the sudden huge drop in Jet2's share prices. If I remember correctly, I'm pretty sure it was in regards to Jet2holidays. Clearly this is a side of the market where they make quiet a bit of money.
Jet2’s parent company has seen its shares plunge on the London Stock Exchange after warning about “less buoyant” holiday sales.
Dart Group, which owns the Leeds-based airline and tour operator, has issued a profits warning today as it admitted that pricing in the leisure market has been “weak”.
The announcement sent Dart’s shares plunging by up to 29% from yesterday’s closing price of £2.51 per share to as low as £1.78 in early trading in London.
The company warned that demand for holidays this summer has been “less buoyant than we hoped for” despite the company enjoying a 30% rise in operating profits during its last financial year.
Chairman Philip Meeson said: “In relation to the current financial year, we are finding demand for leisure travel, this summer, to the markets we serve, less buoyant than we would have hoped for and market pricing weak.
Some years, when the World Cup is on especially, a lot of companies, on the holiday side of things, tend to struggle. Of course, EZY and FR don't tend to struggle anywhere near as much because of they're massive operation, in comparison with LS, and they've got different operations and bases running in different parts of Europe too. But I would be interested to see how TCX and TOM do too.
But going back to previous topics in this thread, in my opinion, this proves exactly why LS shouldn't go into long haul. They should be keeping their financial reserves for times like these. I would imagine they would make most of their money with Jet2holidays on long haul and they're saying the market can be weak and buoyant at times then surely they'd never be stupid enough to take the risk?