Dart Group - Interim Results for the Six Months Ended 30 September 2003
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Dart Group - Interim Results for the Six Months Ended 30 September 2003
Link to Channel Express / Jet2 parent company Dart Group PLc
LSE - Dart Group Link
LSE - Dart Group Link
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Reading between the lines, it doesn't look as if Jet 2 has been the roaraway success it's painted. It's certainly helping the cashflow, something which a Low Cost operation will generally do, but comments like
would suggest that they didn't expect much...and didn't get much. Otherwise, I'm sure they would have made a bigger deal. There is also a thinly veiled Profits Warning relating to Jet2's winter losses.
Luckily, being part of a bigger group means all the money gets mixed up, making it harder for an outsider to determine whether the LoCo model is actually working in the regions like this. The same is true for MyTravel Lite, most of the German LoCo carriers.
If you couple that with Easyjets significantly lower profits, we could be seeing the saturation in the marketplace that people have been warning about for some time.
this business has met expectations
Luckily, being part of a bigger group means all the money gets mixed up, making it harder for an outsider to determine whether the LoCo model is actually working in the regions like this. The same is true for MyTravel Lite, most of the German LoCo carriers.
If you couple that with Easyjets significantly lower profits, we could be seeing the saturation in the marketplace that people have been warning about for some time.
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Hmmmm
Isn't Yorkshire not still a largely untapped market? I think JET2's main problem for last summer was the apparent lack of utillization of its fleet. The load factors have been good, the time keeping has been good.
I'm sure the fleet will be much better utillized next summer, new route capacity on existing routes is sure to be announced, probably in January when there sixth aircraft arrives.
Last summer has been a learning curve for JET2, as like most airlines, they don't make money in the first year anyway. Next year will be the big test.
I think JET2 is still onto a winner because it is serving an untapped market as long as expansion is taken with prudence unlike EASYJET who are expanding far too quickly.
GOOD TIME KEEPING
GOOD SERVICE
LOW FARES
=
WINNER!!!
Isn't Yorkshire not still a largely untapped market? I think JET2's main problem for last summer was the apparent lack of utillization of its fleet. The load factors have been good, the time keeping has been good.I'm sure the fleet will be much better utillized next summer, new route capacity on existing routes is sure to be announced, probably in January when there sixth aircraft arrives.
Last summer has been a learning curve for JET2, as like most airlines, they don't make money in the first year anyway. Next year will be the big test.
I think JET2 is still onto a winner because it is serving an untapped market as long as expansion is taken with prudence unlike EASYJET who are expanding far too quickly.
GOOD TIME KEEPING
GOOD SERVICE
LOW FARES
=
WINNER!!!
Why do you say easyJet are expanding too quickly?
Next year is planned only for 20%.
Cheers
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Next year is planned only for 20%.
Cheers
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Hmmm!
Me thinks the upward pointing mammories would be closer to home within a group chosing clapped out kit (well not as clapped out as some of RYR's although) than a forward thinking outfit like the orange brigade.
Oh yes under utilisation will lose you money, But over utilisation will lose you more. What is the right mix. I personally think Channex have over estimated the market at LBA. And soon to have 6 733's based there. Well I guess the north is a cheap place to park retired types.
Me thinks the upward pointing mammories would be closer to home within a group chosing clapped out kit (well not as clapped out as some of RYR's although) than a forward thinking outfit like the orange brigade.
Oh yes under utilisation will lose you money, But over utilisation will lose you more. What is the right mix. I personally think Channex have over estimated the market at LBA. And soon to have 6 733's based there. Well I guess the north is a cheap place to park retired types.
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Well apparently 4 million people cross the pennines each year, just to go on their jollies, I'm sure the DART GROUP did the paper work before starting up JET2!!!! Leeds is the fastest growing city in the UK. I'm sure that should be enough to suggest it should have air services to match?
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Whats wrong Stick Flying, Channex/Jet 2 turn you down...? Don't worry, I hear they are very hard to get into anyway...
As for 'clapped out kit'... and just what are easy using... 300's! (not to mention most LCC's worldwide)... DOH!
As for 'clapped out kit'... and just what are easy using... 300's! (not to mention most LCC's worldwide)... DOH!
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Alright, Calm down calm down.
I was just merely pointing out that the other LoCo's are moving forward. Easy seem to be making the right moves. Now concentrating on European bases with modern kit (and I think you will find many of the worldwide LoCo's with 733's already owned them in another part of their group). The financial results are not those of an organisation about to go T*** up. Just look at the interim statement for Dart group. The comment "Whilst the overall outlook appears promising, we do not discount the intensely competitive environment we are trading in" is a rather unusual statement from the company.
Just remember Easy have been operating for approaching 10 years. Jet2 have done a summer season. Lets just wait the all important 3 years before any comparisons can be made. All I will say is Jet2 will not be a success with LBA alone. And it does seem they are aware of this.
I was just merely pointing out that the other LoCo's are moving forward. Easy seem to be making the right moves. Now concentrating on European bases with modern kit (and I think you will find many of the worldwide LoCo's with 733's already owned them in another part of their group). The financial results are not those of an organisation about to go T*** up. Just look at the interim statement for Dart group. The comment "Whilst the overall outlook appears promising, we do not discount the intensely competitive environment we are trading in" is a rather unusual statement from the company.
Just remember Easy have been operating for approaching 10 years. Jet2 have done a summer season. Lets just wait the all important 3 years before any comparisons can be made. All I will say is Jet2 will not be a success with LBA alone. And it does seem they are aware of this.
