Dart Group Expects Fiscal Year Results to be Ahead of Market Views
September 03 2015 - 02:59AM
Dow Jones News
LONDON--Dart Group PLC (DTG.LN), the owner of budget airliner
Jet2.com, said Thursday that it now anticipates performance for the
fiscal 2016 to be materially ahead of current market forecasts due
to strong trading by its leisure travel business.
"Demand for our package holiday products continues to grow and
as a result the number of package holiday customers as a proportion
of overall flown customer numbers has increased. The business has
also achieved higher airline ticket yields and load factors than in
summer 2014," Chairman and Chief Executive Officer Philip Meeson
said.
"Early indications for winter 15/16 leisure travel bookings are
satisfactory," Mr. Meeson added.
Dart said that it has entered into an agreement to purchase 27
new Boeing 737-800NG aircraft to meet future demand and for planned
fleet replacement. The aircraft will be delivered between September
2016 and April 2018.
The total value of the aircraft purchase, at current list
prices, is $2.6 billion, though Dart has secured discounts from the
list price. The purchase is expected to be funded through a
combination of internal resources and debt.
Dart also said that its logistics business, Fowler Welch, is
also currently trading ahead of last year.
Write to Tapan Panchal at tapan.panchal@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 03, 2015 02:44 ET (06:44 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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