Jet2.com. Good & bad news. Parent Dart Group announces FY2014 profit growth & FY2015 profit warning

Jet2.com reported healthy growth in traffic, revenues and operating profit in FY2014. The leisure LCC's parent company Dart Group PLC achieved even better results thanks to the expansion of the package holiday business Jet2holidays. Jet2.com operates among the highest load factors in the European airline sector and has been steadily profitable for the past six years.

However, the growing seasonality of the business has increased its dependence on a strong summer, while winter losses continue to grow. The company flagged this with its 1H results in Dec-2013 and even hinted that winter losses could have wiped out full year profit growth. FY2014 did achieve profit growth, but current weakness in demand in its markets has led Dart Group to issue a profit warning for FY2015, the latest in a series of downward revisions to the earnings outlook for European airline businesses.