Jet2 looks good value
The leisure travel group made a big commitment to maintaining high levels of customer service over the pandemic, retaining large numbers of team members when rivals did the opposite. As a result, Jet2.com earned the accolade of being the only UK airline not to cancel a flight during July and August 2022. The latest results covered here were excellent and just reward for their efforts. (Free to read)
Leeds Bradford Airport-based Leisure Travel group Jet2 (AIM:JET2), announced strong results for the year ended 31 March 2023, although that didn’t stop the shares falling back on the day. The post Covid rebound in travel saw revenue rise 40% to £5 billion and the operating profit (before FX revaluation and tax) recover to £390.8m, which compares to the prior year’s loss of £324m. Of greater significance, the operating profit was 48% higher than the pre-Covid financial year ended 31 March 2020, despite having to absorb delay and associated compensation costs in excess of £50m as a direct impact of the…