Jet2-5
 

For those who did not go. Philip Meeson, Executive Chairman, will make the following statement:

“The satisfactory start to the financial year as reported in our Preliminary Results Statement of 13 July 2017 has continued, with Leisure Travel bookings growing in line with our 41% summer 2017 seat capacity increase. Demand for our higher margin package holiday products remains strong and holiday customer numbers as a proportion of total departing customers have increased slightly. It is particularly encouraging to report that our new London Stansted and Birmingham Airport operating bases are already proving popular, with over 1.3m passengers booked to fly with Jet2.com this summer, of which close to 50% have chosen a package holiday with Jet2holidays.

Continued encouraging progress is being made at Fowler Welch, our Distribution & Logistics business, which is currently trading in line with expectations.

Despite our airline ticket yields being lower than those achieved in summer 2016, overall the Board expects the Group to meet current market expectations of underlying profit before taxation for the year ending 31 March 2018 and will provide a further trading update on publication of its interim results on 16 November 2017.”

Underlying profit before taxation is defined as profit before taxation stated before foreign exchange revaluation gains or losses

Was interested to see latest Jet2 TV advert has a section that says 'Proud to fly Boeing' with the Boeing logo.

Seems the A330 usage to New York has extended outwards from STN to Manchester and Newcastle, amongst others.

AGM some discussion about expansion especially in S/E and Birmingham.
Extra 3 planes at STN next year.
Holiday division continues to show huge growth with the numbers going up 50% yoy but of course they are much higher.
Expect around 2.5 million up from 1.7 last year.
The added value in holidays gives extra profit which once the new bases are bedded in will continue to grow.
I expect a big hike in t/o this year by almost a billion.
This company is probably no 2 in the uk market now and I think will grow to be no1.
The New York stuff is just done as a bit of a gimmick for punters up north who cannot normally get the chance.
Are they still busy?
Well trying to get a seat Sunday or Friday next week to Faro on a 757 is not easy.

Just tried a few combinations of booking NCL - New york, some seat plans show 757, some are 330

Just looked at NCL - New York, seat plans show around 50% reserved already

Did they give any indication if they would add any new bases? If CWL or BRS or EXT are in their plans for any future expansion?

The NCL-EWR xmas flights are very popular yes good to see the A330 on a few of the atlantic trips. Does anyone know where the new 737-8MG will be based over the winter ?

No plans as I think they have their hands full at STN ( especially).
We only started in April and the kind of growth from a brand that carried no value in the south is promising.
The return rate is very high plus 60% within a year so add that to new clients and boom.
The BOD were due into the airport at 5.00 am the following day to see if things were sweet.
There can be little growth at Leeds now its almost full and the Faro flight boards in Cookridge !!
Its a shame that LBA spoil the good work with their shabby approach.
1 hour to get through passports and the same for bags is not good.
I feel the VC lot are bleeding it dry.

BHX
 

Just out of interest what specific indications were given about future expansion at BHX? In terms of pax numbers they seem to be performing very well, although this alone of course is not any indication of profitability.

AMS is surely a route under consideration from BHX?

Tiger, can you please clarify the following. When you refer to LBA, do you mean Leeds Bradford Airport Limited or the Jet2 base at this airport ? Also, who or what is the VC lot ?

Ta.

I assumed that VC meant venture capital. Am I right?

Thanks for the info.

I have just had a first look at the current programme for the Summer 2018 peak (based on August 2018) and it looks like the airline will break the 1000 departures per week barrier for the first time, there are currently 1035 departures per week planned (+113 on the Summer 2017 peak)


As expected, the biggest increases are at the new bases of Birmingham (+37 departures per week) and London Stansted (+44 departures per week) with Belfast also showing a good increase (up from 41 to 53 x weekly departures)


There are presently 295 Airport pairs planned, with 40 new route pairs planned for Summer 2018, and 3 cancelled routes (East Midlands to Naples, Leeds Bradford to Dusseldorf and Manchester to Toulouse)


As always, there is still time for changes to be made, but it certainly looks like it will be a busy Summer for the airline again in 2018.

Not discussed other than preforming well

Leeds Bradford Airport is LBA yes


The Venture Capitalists Bridgepoint capital bought the Airport and in my opinion not enough is re invested.
Its a Cash Cow.

there will be an increase for Faro in 2018?

Faro is currently showing 76 x weekly departures (an increase of 1 x weekly) for the Summer 2018 timetable, based on August 2018.

BFS are getting a B738 next month but I don't think we know which one yet.

Jet2 are now recruiting for a Palma base. That's an interesting development. I wonder will they keep the Alicante base?