(Alliance News ) - Jet2 PLC on Thursday said it expects to beat current market expectations for financial 2023 ending March 31, with pre-foreign exchange revaluation pretax profit between GBP370 million and GBP385 million.

Market consensus for profit before FX revaluation and taxation is GBP317 million.

The Leeds, England-based holiday airline said average load factors are now slightly ahead of Winter 2018 at the same point, against a 24% increase in seat capacity "with pricing and margins significantly higher".

It said the mix of Package Holiday customers has remained consistent at about 60% of total departing passengers for the season.

Additionally, Jet2 noted that it is facing input cost pressures including fuel, carbon a strengthened US dollar and wage increases.

Looking ahead, the company said on-sale seat capacity for summer 2023 is currently 6.6% higher than summer 2022 at 15.2 million seats.

Back in November, Jet2 had said revenue multiplied to GBP3.57 billion in the six months that ended on September 30, from GBP429.6 million the year before. It swung to a pretax profit of GBP450.7 million from a loss of GBP205.8 million.

It will announce financial 2023 results on July 6.

Shares were up 2.9% at 1,211.00 pence each on Thursday morning in London.

By Xindi Wei, Alliance News reporter

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