Jet2 - 3
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Full year Dart Group results issued today. Full text available
http://mwprices.ft.com/custom/ft2-co...b7ee0a54264%7D
Picked out some bits of interest though
Profit before tax, goodwill amortisation and exceptional items amounted to
#16.6m (2006 - #14.5m restated). Profit before tax and after goodwill
amortisation and exceptional items amounted to #18.1m (2006 - #14.8m restated).
The company believes that The Canary Islands, which have formerly mainly been served by charter flights, will become an increasingly popular scheduled service destination, ideally suited to the performance of our 235 seat Boeing 757 aircraft. After successful services last winter to Tenerife and Lanzarote we will be operating up to 27 flights a week to the Islands this financial year.
The Canary Islands Tourist Authorities will actively promote the destinations
throughout our region and bookings to date are encouraging. The company plans to further expand its longer distance services and winter sun routes to enhance our overall offering to our customers.
During the year the company acquired five Boeing 757-200 aircraft. The Boeing 757-200 is a versatile aircraft able to carry up to 235 passengers over 3,000 miles. Its overall performance is particularly suited to Leeds Bradford which is a high airport with some operational constraints. The Boeing 757-200 allows the company to offer a range of destinations from both Leeds Bradford and its other bases that other aircraft cannot match. At the same time it is extremely environmentally friendly in terms of noise, fuel efficiency and emissions. We expect to increase our Boeing 757 fleet over the coming years and also to operate similar, larger types which will allow our customers to explore an expanding range of popular destinations at the lowest possible fares.
In February 2007, Jet2holidays was launched to offer flexible duration
flight, transfers and hotel packages linked, primarily, to our scheduled
services. Whilst this is a highly competitive market, we believe that by
packaging attractive hotels with our low fares we can give our leisure customers great value holidays. The concept is currently being marketed on a limited basis whilst the mechanics of the process are developed. However, we are pleased that customer feedback to date has been good and we look forward to putting full promotional spend behind the product for the next year.
Jet2 aims to expand its business by serving traditional leisure markets at
highly competitive prices and developing a range of longer distance low-cost
services that meet the aspirations of leisure travellers. Obviously routes take
time to develop and costs are incurred in building volumes and taking market
share. We will be continuing investment in new routes over the coming year so profit growth in this area of our business is likely to be flat.
In the competitive scheduled low-cost travel market, which is becoming
progressively later booking and therefore more difficult to predict, whilst our
235 seat Boeing 757s differentiate our product and capabilities from several of
our competitors, new routes take time and money to develop to profitability.
However, the consolidation of the major tour operators, who currently have large capacity to many of the destinations we also serve, should give real opportunities both for our scheduled business and Jet2holidays. Therefore, overall, whilst I believe it is unlikely that the Group's profits will increase this year, growth should resume thereafter.
*************************
Would seem from this that the 767 rumour certainly has foundation, that there are likely to be more longer range winter sun routes coming on line and that the jet2 holidays business will be given a bigger push for summer 08, which may mean more "charter" type routes being invested in
682
http://mwprices.ft.com/custom/ft2-co...b7ee0a54264%7D
Picked out some bits of interest though
Profit before tax, goodwill amortisation and exceptional items amounted to
#16.6m (2006 - #14.5m restated). Profit before tax and after goodwill
amortisation and exceptional items amounted to #18.1m (2006 - #14.8m restated).
The company believes that The Canary Islands, which have formerly mainly been served by charter flights, will become an increasingly popular scheduled service destination, ideally suited to the performance of our 235 seat Boeing 757 aircraft. After successful services last winter to Tenerife and Lanzarote we will be operating up to 27 flights a week to the Islands this financial year.
The Canary Islands Tourist Authorities will actively promote the destinations
throughout our region and bookings to date are encouraging. The company plans to further expand its longer distance services and winter sun routes to enhance our overall offering to our customers.
During the year the company acquired five Boeing 757-200 aircraft. The Boeing 757-200 is a versatile aircraft able to carry up to 235 passengers over 3,000 miles. Its overall performance is particularly suited to Leeds Bradford which is a high airport with some operational constraints. The Boeing 757-200 allows the company to offer a range of destinations from both Leeds Bradford and its other bases that other aircraft cannot match. At the same time it is extremely environmentally friendly in terms of noise, fuel efficiency and emissions. We expect to increase our Boeing 757 fleet over the coming years and also to operate similar, larger types which will allow our customers to explore an expanding range of popular destinations at the lowest possible fares.
In February 2007, Jet2holidays was launched to offer flexible duration
flight, transfers and hotel packages linked, primarily, to our scheduled
services. Whilst this is a highly competitive market, we believe that by
packaging attractive hotels with our low fares we can give our leisure customers great value holidays. The concept is currently being marketed on a limited basis whilst the mechanics of the process are developed. However, we are pleased that customer feedback to date has been good and we look forward to putting full promotional spend behind the product for the next year.
Jet2 aims to expand its business by serving traditional leisure markets at
highly competitive prices and developing a range of longer distance low-cost
services that meet the aspirations of leisure travellers. Obviously routes take
time to develop and costs are incurred in building volumes and taking market
share. We will be continuing investment in new routes over the coming year so profit growth in this area of our business is likely to be flat.
In the competitive scheduled low-cost travel market, which is becoming
progressively later booking and therefore more difficult to predict, whilst our
235 seat Boeing 757s differentiate our product and capabilities from several of
our competitors, new routes take time and money to develop to profitability.
However, the consolidation of the major tour operators, who currently have large capacity to many of the destinations we also serve, should give real opportunities both for our scheduled business and Jet2holidays. Therefore, overall, whilst I believe it is unlikely that the Group's profits will increase this year, growth should resume thereafter.
*************************
Would seem from this that the 767 rumour certainly has foundation, that there are likely to be more longer range winter sun routes coming on line and that the jet2 holidays business will be given a bigger push for summer 08, which may mean more "charter" type routes being invested in
682
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Quote: The Boeing 757-200 is a versatile aircraft able to carry up to 235 passengers over 3,000 miles. Its overall performance is particularly suited to Leeds Bradford which is a high airport with some operational constraints.
Interesting then that despite some proposed CAT III trials at the end of last year which were cancelled due WX (xwinds), the EXS B752's are still CAT I only operating into the LBA. For how long? surely this needs to be addressed giving the well known WX related "operational constraints" at the airport particuarly in the winter
Interesting then that despite some proposed CAT III trials at the end of last year which were cancelled due WX (xwinds), the EXS B752's are still CAT I only operating into the LBA. For how long? surely this needs to be addressed giving the well known WX related "operational constraints" at the airport particuarly in the winter
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Another messy looking day today. Last nights Malaga only just got in, and a couple of things routed through Manchester too it would seem. 
Granted, the wx doesnt seem to be helping things!
Granted, the wx doesnt seem to be helping things!
Last edited by spanishflea; 1st Jul 2007 at 16:41.
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Withins, you are factually incorrect. The CAT3 trials were cancelled because it was discovered that another airline had previously run trials with very negative results and freely handed over those results to Jet2 - there was therefore no point in repeating them.
The problem is the displaced threshold and the dip thereafter, where the aircraft hangs in the air with an increasing pitch attitude and idle thrust risking a long, heavy landing and possible tail strike. The decision to abandon CAT3 at LBA was based on safety reasons alone. Every other operator but one has banned autolands at LBA for the same reasons, and that one has a much lower exposure because of much less frequent operations. Discussions, in conjunction with another airline (operating a different type, but who have also banned autolands) are ongoing with the airport authority. The airline will commence CAT2/3 operations when, and only when, it is deemed safe to do so.
The problem is the displaced threshold and the dip thereafter, where the aircraft hangs in the air with an increasing pitch attitude and idle thrust risking a long, heavy landing and possible tail strike. The decision to abandon CAT3 at LBA was based on safety reasons alone. Every other operator but one has banned autolands at LBA for the same reasons, and that one has a much lower exposure because of much less frequent operations. Discussions, in conjunction with another airline (operating a different type, but who have also banned autolands) are ongoing with the airport authority. The airline will commence CAT2/3 operations when, and only when, it is deemed safe to do so.
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Which other operator would have gone to the trouble of undertaking 757 trials? Other than EXS only Thomson have regular 757 ops into LBA and they allow CAT3 so long as there is no tailwind component.
Ryanair are also regular users of CAT3 on the 800 srs and bmi have just got certification down to 3b for the 319. I also thought Jet2 themselves certified the 737 for autoland down to 3a minima? That's 3 regular operators is it not.
I hope for the sake of maintaining the winter schedule though that they give the new airport owners a kicking about sorting those disp. thresholds out at both ends.
Ryanair are also regular users of CAT3 on the 800 srs and bmi have just got certification down to 3b for the 319. I also thought Jet2 themselves certified the 737 for autoland down to 3a minima? That's 3 regular operators is it not.
I hope for the sake of maintaining the winter schedule though that they give the new airport owners a kicking about sorting those disp. thresholds out at both ends.
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Correct on Cat III for BMI A319 (although not A320 I believe) & RYR / Jet2 737's. However there is less risk of tail strike with these types.
Suspect disp thresholds aren't top priority though - shops are the in thing and will make the airport money. The fact any extra pax they hope to attract might not get through the terminal or catch a plane due to lack of infrastructure development is unlikely yet to have reached the top of the bean counter's agenda but live in hope!
Suspect disp thresholds aren't top priority though - shops are the in thing and will make the airport money. The fact any extra pax they hope to attract might not get through the terminal or catch a plane due to lack of infrastructure development is unlikely yet to have reached the top of the bean counter's agenda but live in hope!
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VDV-Thanks for the clarification, for the first time a lot of people, myself included, will now know not only the reason why the EXS B752's are not yet CAT III at the LBA but also the reality of the airport's location, geography, dispaced thresholds, short LDA (shall I go on?) and the problems these bring to the operators.
The challenge is then for the new owners to invest in the operational infrastructure:- runway resurfacing, moving of thresholds, CAT II on 14, increase the LDA.
Big demands? defineately, unrealistic? probably, but if something isn't done sooner rather than later the drip, drip effect of diversions, cancellations, and associated passenger incovenience will erode a lot of the good work that the airports's growth and Jet 2's part in the raising of the airports's profile has achieved, particuarly on a regional level.
This investment is vital for the long term development of the airport, what use is a gleaming new terminal if the "business end" of the place is still third rate.
The challenge is then for the new owners to invest in the operational infrastructure:- runway resurfacing, moving of thresholds, CAT II on 14, increase the LDA.
Big demands? defineately, unrealistic? probably, but if something isn't done sooner rather than later the drip, drip effect of diversions, cancellations, and associated passenger incovenience will erode a lot of the good work that the airports's growth and Jet 2's part in the raising of the airports's profile has achieved, particuarly on a regional level.
This investment is vital for the long term development of the airport, what use is a gleaming new terminal if the "business end" of the place is still third rate.
Last edited by withins; 3rd Jul 2007 at 08:56.
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Jet2 are Bridgepoint's biggest customer at LBA, and LBA is Jet2's largest operating base, its HQ and arguably the base where it has the most favourable combination of catchment size & competition. One would have thought it not at all unrealistic to expect the two parties to come to some sort of arrangement e.g in return for a committment from Jet2 for growth and route development, Bridgepoint would commit to favourable commercial terms and directing some of their £70m 'pot' to improving the airport's low-viz defences.
Rising interest rates, increases in APD, the green lobby, lengthy airport security queues etc are all reasons for people simply not to bother and spend their money on something else. In light of this I would have thought any "beancounter" would be commecially astute enough to recongise that investment in the reliability and smooth operation of the services offered by airports and airlines is money well spent in the long term.
Rising interest rates, increases in APD, the green lobby, lengthy airport security queues etc are all reasons for people simply not to bother and spend their money on something else. In light of this I would have thought any "beancounter" would be commecially astute enough to recongise that investment in the reliability and smooth operation of the services offered by airports and airlines is money well spent in the long term.
I hope if PM is planning on buying some 767s they are younger and/or more reliable machines than the current crop of cr*p. Old aircraft need more downtime and TLC and with the amount of flying the company is doing this summer, it ain't happening. Regardless of what issues other locos may face, the resultant technical delays just make Jet2 look very bad. It's maybe just as well the company doesn't have much competition at its home base. I wish there was some competition out there. One gets a little depressed turning up for work every morning to see lots of Jet2 and not a lot else. Hope springs eternal though. 
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Nobody has yet been able to say why Thomson 757's used to land in CatIII conditions,RVR 75m and 3 kt tailwind. This happened many times. Also Airtours A321's. So what has changed?
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Mooncrest
Old aircraft need more downtime and TLC and with the amount of flying the company is doing this summer, it ain't happening. Regardless of what issues other locos may face, the resultant technical delays just make Jet2 look very bad.
Old aircraft need more downtime and TLC and with the amount of flying the company is doing this summer, it ain't happening. Regardless of what issues other locos may face, the resultant technical delays just make Jet2 look very bad.
Agreed, old aircraft, do, need more maintenance ("TLC") and as a result more downtime, but they can be cost effective but when you operate them the way jet2 do (at the moment) with not enough downtime and manpower, something has to give. At the moment its the passengers who are suffering (the people who pay our wages).
Rome wasn't built in a day, so maybe its time to consolidate and get back to the people who are actually paying for the seats before moving to next level.
I'd love the 767 but lets get good at the current level of expansion before moving on. Alot has happened in the last year!
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Working all the hours??
Mr Brown's comments on Jet 2 aircraft being worked hard (and consequently in need of more TLC and therefore Tech delays) surprised me a bit, as often when passing thru LBA I am struck by what I see as an apparent relatively low utilisation of aircraft compared to charter operators who will normally work an aircraft on three rotations a day with very little slack for unplanned maintenance and likewise very few gaps in the schedule to catch up on delays. I do realise some of the 737 are QC aircraft and operate night mail flights but would be interested if someone in the know from Jet 2 could map out a typical days operations for an aircraft. 
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charter operators who will normally work an aircraft on three rotations a day with very little slack for unplanned maintenance and likewise very few gaps in the schedule to catch up on delays