Jet2 defies volcano impact

The group, which owns budget airline Jet2.com, reported a 38 per cent rise in pre-tax profits to 38.7m for the first half to September 30, helped by higher revenues

The group, based at Leeds Bradford airport, said its leisure airline Jet2.com has continued to focus on its core leisure routes from its seven Northern bases at Leeds Bradford, Manchester, Newcastle, Belfast, Blackpool, East Midlands and Edinburgh.

Jet2, which has increased its services to Eastern Mediterranean destinations, operates 34 aircraft.

Aviation revenues rose by 25 per cent to 270m, as a result of increased passenger volumes, higher average revenues per passenger and continued growth in Jet2holidays, the Group's ATOL bonded tour operator.

This revenue growth was achieved despite the disruption to Jet2's flying programme caused by volcano Eyjafjallaj?kull, which resulted in the cancellation of over 400 flights.

The overall profit impact as a result of this disruption is estimated at 3m, including refunded flight revenues, compensation claims and the repatriation of customers who were stranded overseas.