Positives for Jet2 with 35% New Passenger Increase, Despite Inflation Uncertainty

Speaking within Jet2's annual report, Executive Chairman Philip Meeson explained "inflationary pressure" for the airline

Inflation and economic uncertainty could effect Jet2’s pricing overcoming months. That’s according to Executive Chairman Philip Meeson, who explained in the company’s recent annual report.

He said, “Inflationary pressures coupled with the uncertain UK economic outlook for consumers, lead us to conclude that in the medium-term prices are likely to come under some pressure.

“However, we believe we have the right product for these tougher times.”

Jet2 explained how “Overall demand for our leisure travel products has continued to strengthen, but with customers booking a little later with normal. Pleasingly, over 35% of our Summer 22 bookings are from completely new customers to Jet2.”

The increase is a positive for the company as the airline recently reported to be the only airline to not cancel flights during the covid-19 pandemic.

Mr Meeson also explained how,

“The end to end package holiday is a higher yielding, resilient and popular product in difficult economic times and the Mediterranean and Canary Islands are evergreen destinations where people absolutely want to go.”

“The control of our own seat apply and our frequency of flying, allow us to offer truly variable duration holidays, critical in allowing our Customers the ability to flex their holiday arrangements to suit their individual budgets.”