Dart counts the cost of the volcano

However, the Leeds Bradford airport-based group also revealed the ash cloud from Iceland's volcanic eruption has so far cost its budget airline Jet2.com 2.8m in profits.

Dart said cancelling more than 400 flights and accommodating and repatriating passengers and holidaymakers has hit profits by about 350,000 a day. But the group added its balance sheet is strong enough to withstand a "considerable period of disruption".

Dart said despite the turmoil, Jet2.com bookings for the summer are ahead of expectations and last summer.

During the months to the end of March, the airline benefited from a "continued cautious approach to its flying schedule," as it focused on popular non-Eurozone destinations. Dart added it has also bought another 757-200 jet to expand in the East Midlands.

The group's Fowler Welch-Coolchain logistics arm, which transports perishable goods to supermarkets, performed in line with expectations.