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Jet2.com is a British LCC with its main base at Leeds Bradford International Airport, as well as seven secondary bases across the country's north; Blackpool, Belfast International, Edinburgh, Newcastle, Nottingham, East Midlands and Manchester. Jet2's network includes scheduled passenger services to 50 destinations across Europe and the Middle East, as well as contract charter and air cargo services. The carrier is owned by Dart Group PLC.
Location of Jet2.com main hub (Leeds/Bradford Airport)
Dart Group share price
LCCs will continue to evolve into hybrids of the original core model. CAPA and OAG consider Jet2.com fits the LCC profile and it is included in our reporting on this basis. Please note: when reporting for an airline is changed from or to LCC the historical data is not affected and it can lead to a distortion in the current reported data. Contact us if you have any queries.
381 total articles
Jet2.com transports 4.2m pax in 1HFY2014; parent remains 'cautiously optimistic' of FY profit growth
35 total articles
Jet2.com is a two-sided coin. Profitable every year since FY2008, the LCC’s FY2013 operating margin puts it in the top half dozen European airlines. In 2013 its operating profit grew by 23%, helping to drive parent Dart Group to a 33% increase in its operating result. The group, and the airline, appears to be well managed and well capitalised. Jet2.com serves leisure markets from bases in the northern parts of the UK and its top 10 routes include seven where it is the leading carrier.
However, Jet2.com also faces significant challenges. It faces competition from lower-cost LCCs in many of its markets and, although its network concentrates on slightly further flung destinations, the likes of easyJet and Ryanair are also moving into longer sectors.
Jet2.com’s capacity is more seasonal than any other leading carrier in the UK, bringing significant challenges to achieving year-round profitability. Its policy of acquiring second hand aircraft minimises capital expenditure, but gives it an ageing fleet with a structural operating cost disadvantage.
United ends 2012 as world's biggest airline, Emirates third. Turkish and Lion Air the biggest movers
United Airlines, following its merger with Continental, has ended 2012 as the world's biggest airline measured by available seat kilometres for the current week, ahead of second placed Delta, whose capacity fell 0.3% year on year, according to Innovata. Fast growing Dubai-based carrier Emirates is the world's third biggest airline by this measure, and could be in second place by the end of 2013 if the past year's growth rates are maintained.
Southwest Airlines remains easily the largest LCC, while Lion Air and Jetstar have each climbed the LCC top 10, to sixth and seventh places respectively, overtaking Westjet. Atlanta Airport (just) remains the world's largest, ahead of Beijing Capital Airport, in terms of seat throughput for the week, but this ranking seems certain to reverse in 2013.
The biggest movers in the overall World Top 50 list include Turkish Airlines, which jumped seven places to rank 15th globally, while Indonesian carrier Lion Air vaulted eight places to enter the global Top 40 for the first time. Iberia and India's Jet Airways fell four and seven places in the 2012 rankings, respectively.
Global Airline Alliances collectively grew capacity at higher than the world rate, with SkyTeam expanding fastest of the three majors, although Star Alliance remains easily the largest.
Emirates is close to overtaking American Airlines and becoming the third largest airline by available seat kilometres (ASKs) after the Dubai-based carrier's massive 19% increase in capacity over the last year. Emirates' current capacity is close to 30% above levels of just two years ago, according to Innovata. Over the same period, American has cut capacity by about 8% while larger rivals United Airlines and Delta Air Lines have slashed ASKs by over 16%, according to Innovata. Interestingly, were American Airlines to combine with US Airways it would become the world's biggest airline - some 4% larger than Delta by ASKs based on Innovata capacity figures for Aug-2012.
The other big movers over the past two years include Ryanair, which has leapfrogged China Southern and US Airways into the Top 10, and Turkish Airlines, which has soared into 17th position (from 27th two summers ago) thanks to an astonishing 52% increase in ASKs. easyJet has also moved up several places to be just outside the Top 20, while Japan's ANA and JAL have fallen outside the top 20 grouping.
British Airways (BA) is preparing to disband bmibaby, the low-cost unit it unwelcomely acquired from bmi after previous owner Lufthansa failed to find a buyer. But as the saying goes: one man’s meat in another man’s poison and the news of bmibaby’s grounding was welcomed by multiple airlines including Monarch, Flybe and Jet2.com, all of which are swiftly stepping in to backfill capacity.
Anemic-turns-dynamic is not exclusive to bmibaby’s network but a development seen following the recent demise of other small- and medium-sized airlines in Europe such as Spanair, Malev and Cimber Sterling. In those cases, competitors have reacted swiftly and within a couple of days to fill the void.
bmibaby’s closure is indicative of a recent development in Europe: the lavish injection of capital in loss-making carriers is coming to a standstill with public and private shareholders alike halting the operations of these entities, mostly small- and medium sized airlines, a trend long overdue and induced by low or no economic growth in most EU countries implementing stark austerity measures, and high fuel prices.
The expression ‘mixed messages’ is often banded around in the air transport business. There is a clear case of it in the UK right now where many airports are behaving as if there is little future for the traditional package holiday delivered by dedicated charter airlines while at the same time the LCCs, who were supposed to supplant the charter airlines with their FIT-friendly offer, are increasingly turning to the package vacation in order to differentiate themselves from the opposition and to appease growing demand from their customers.
The world's low-cost carriers (LCC) and airlines not part of the global alliances have taken market share away from the leading global groupings again this month, continuing a theme of recent months. Over the past 12 months, LCCs have increased their share of global aviation (in terms of seats per week) from 22.9% in Aug-2010 to 23.8% in Aug-2011, while the un-aligned carriers have risen from 27.6% to 28.8%. Over the same period, Star Alliance's share has fallen 0.9 ppts to 23.1%, while oneworld has lost 0.8 ppts to 10.2%. SkyTeam has seen its share drop 0.3% to 14.1%, according to Innovata schedule data.
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