Jet2 faces forking out over 50m in compensation
Jet2 has uppedits full-year earnings outlook after swinging to a profit in the first half, new results show.
In the six months to 30 September, the travel group swung to a pre-tax profit of 450.7million, up from a loss of 205.8million from the same point a year ago.
The Leeds-based airline saw its revenue surge by 730 per cent to 3.6billion by the end of the half.
The group said it was facing forking out compensation to customers totalling over 50million following disruption this summer, which spread across multiple airlines and airports in the UK and abroad this summer.
The airline's flight-only ticket yield per passenger increased to 105, up from 73.27 a year ago, and representing a 43 per cent increase.
Jet2 said the increase in ticket yield was 'due to changes in the mix of destinations flown, notably to those in the Eastern Mediterranean, and strong consumer demand meaning fewer promotional offers were required.'
HOW THIS IS MONEY CAN HELP
- Jet2 share price and data available here
The average price of a Jet2holidays package holiday increased by 5 per cent to 782, against 748 a year ago, 'reflecting inflationary increases in costs and favourable pricing driven by destination mix and robust consumer demand.'
Continue read on dailymail.co.uk