Holiday group Jet2 has highlighted a “less certain consumer environment” as it cut the number of flights it is offering this winter.
The Leeds-based group said it would be reducing the number of seats it has on sale by 200,000 to 5.6m for the upcoming winter season, though that figure is still 9% higher than a year earlier. It said that, in a “difficult” market, it would be offering “maintain attractive pricing” to encourage people to take flights.
The group saw package holiday passenger numbers grow by 2% in the five months to the end of August, down from growth of 8% in the previous year. But it said flight-only passengers increased by 17% and that the average package holiday price had shown a “modest increase”.
READ MORE: {}
In a trading update, Jet2 said it expects underlying earnings for the year to March 31 2026 to be towards the lower end of forecasts for between £449m and £496m. That compares with £446.5m the previous year.
Chief executive Steve Heapy said: Although we are currently operating in a difficult market, we have a proven business model, a loyal customer base, a flexible approach to capacity management and of course our multi award-winning customer service. We believe that these factors provide the foundation for a solid financial result this year and for further profitable growth in the years to come.”
In July, Jet2 revealed that it had seen sales surge over the past year on the back of strong demand for last-minute getaways. Total passenger numbers increased12% to 19.77m for the year to March compared with the previous year.
Today’s update, which came in advance of Jet2’s annual general meeting, saw shares in the firm fell in early trading on Thursday. The firm published its annual report, with chairman Robin Terrell saying it had seen “another year of record performance.”