British travel giant Jet2 has closed its latest fiscal year reporting a net profit of approximately €479 million, representing an 8,1% decrease compared to the previous period. As part of its strategic growth plans, the company has confirmed that the Canary Islands and the Mediterranean will continue to be the core of its operations. In this context, southern Gran Canaria and the Maspalomas resort area are poised to be the main beneficiaries of the airline's expansion strategy, which aims to channel a massive influx of travelers to the area's hotel complexes. This strategy is further supported by the recent consolidation of its operational bases at key airports in southern England, such as London Luton and London Gatwick, to bolster the tourist season.
This decline in profits occurred despite the company increasing its total revenue by 4% to over €8.700 billion and transporting more than 20 million passengers. The contraction in profit is primarily due to higher operating costs, driven by the increase in kerosene prices and intense competition in the airline sector. These factors slightly compressed the group's profit margin despite continued growth in revenue.
During this period, the airline and tour operator increased its global capacity by 8%, offering 24 million seats and registering a 5% increase in passenger volume. However, this expansion of capacity led to a slight decrease in the aircraft load factor, which stood at 86,8%. The breakdown of activity shows very dynamic performance in the segment of passengers booking exclusively by air, with a growth of 15%, while customers on package holidays increased by 1% and continued to account for the majority of the group's commercial operations.
In the tour operator sector, the average price of package holidays rose by 3% due to increased demand for four- and five-star hotels and the impact of inflation on accommodation costs, which increased by 7%. Despite these budgetary pressures and the rise in operating expenses, the British corporation consolidated a remarkably strong financial position, closing the year with liquidity exceeding £3.200 billion and maintaining an ambitious fleet renewal and expansion plan with Airbus aircraft deliveries scheduled well into the next decade.
