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Leisure travel group Jet2 recorded a pre-tax loss of £ 205.8million for the six-month period ended September 30, 2021, as fragile consumer confidence caused by pandemic-related travel restrictions took an impact on reservations.
In its unaudited interim results for the period, the Leeds-based company added that its revenue rose 43% to £ 429.6million (2020: £ 299.9million).
The total loss for the post-tax period was £ 163.5million (2020: £ 68.7million).
Jet2 says the first three months of the fiscal year saw little change in the significant challenges facing the leisure travel industry, with no scheduled flight activity between April 1 and June 24, 2021.
But following the recent disbandment of the government’s green and amber travel lists from October 4 and the relaxation of passenger testing requirements, Jet2 says early bookings for winter 21/22 have been significantly lower. stronger and the average load factors have improved a lot.
The company notes: “Reservations for summer 2022, for which package holiday bookings show a significantly higher mix of the total, are encouraging, with average load factors before summer 2019 at the same point.
“Given these promising trends, we remain optimistic that in the summer of 2022 we will see a return to previously normal operations and customer volumes. “
Philip Meeson, eexecutive chairman, said: “The travel industry continues to be subject to a series of cost pressures, including fuel and carbon costs.
“In addition, we expect the competitive pricing environment that we know for winter 2021/22 to continue.
“We will also make the necessary investments in our own operations during the remainder of this fiscal year, including the increasing cost of retaining and attracting colleagues ready to expand our flight program during the summer 2022 season,” as well as marketing expenses to generate customer bookings.
“As a result, and as is typical for the company, further losses are to be expected in the second half of the year.
“Nevertheless, the visibility on the financial result for the whole year remains limited and will depend very much on the continued deployment of the vaccines, the absence of other unfavorable developments of Covid-19 and an uninterrupted flight program for the winter. 2021/22. “