Financially Dart are one of the strongest companies by some margin.
They own over 85% of their fleet.
They have no debt.
They have a net cash position ( even allowing for all the restricted cash).
They have invested heavily over the last few years.
They are UK based including the call centre.
They have built a holiday business taking over 1 million customers in under 5 years.
As shareholders the price has doubled in the last two years and gone up 25 times from a low point of 16p.
Couldn’t fault you on the above but since the shares have doubled in tha last two years and the company couldn’t be in a better financial position, can you confirm that the staff salaries and benefits have seen the same percentage increases?
Yes, you have mentioned all the Dart group’s achievements but you have forgotten the people that have worked hard to get the Group where it is today. No CEO nor any Director/manager etc., is of any use if they don’t have staff to diligently carry out their instructions.
Pilots for example have no salary increments, so once employed they have no other reason to stay other than for their own convenience. There are no travel concessions, no salary increments, no share or profit bonuses. Even Michael O’Leary has recently discovered that he needs to be nicer to staff if he wants to keep them and that has even turned the heads of JET2 pilots to look and even go to Ryanair for a better deal. Obviously staffing costs have to be kept down but if it causes more expenses elsewhere due to extra recruitment costs and training costs, then the shareholders aren’t getting a good deal.
The JET2 Holidays Tour Operating is a fairly new venture and has grown beyond anyone’s imagination, a superb achievement. Rumours would indicate, however, that the quick growth has brought with it many more chiefs than necessary and too few coal face workers. In the past this imbalance and/or empire building has brought down many UK tour operators.
Just a little constructive critisism for you to consider but with no intention to detract from the Dart Group’s excellent trading position.