Jet2 is expanding in the Balearics. | Majorca Daily Bulletin reporter


British travel company Jet2 said it was on track to meet annual forecasts after it posted a jump in operating profit for the six months to the end of September, helped by ongoing strong demand for flights and holidays.

While Jet2's British customer base has been hit by higher bills in the last two years, holiday companies and airlines have found consumers have not cut back on holidays.

Jet2 today stuck to guidance for group profit before currency revaluation and taxation to come in at between 480 million pounds and 520 million pounds for the year to the end of March, helped by a particularly strong summer season.

For the first half, that measure of profit came in 32% higher than the previous period, after it took more people on holiday, and more of those opted for its higher-margin package holidays.

Jet2 cautioned that bookings for the current winter season, traditionally loss-making as fewer people travel, were "a little slower in recent weeks" but it added that pricing was robust and it remained confident about the overall market.

For next summer, it planned to raise capacity by 12%, and said bookings and pricing were "encouraging".

Shares in Jet2 are up 18% in the year to date, valuing the company, which has a fleet of about 120 narrowbody jets, at 2.4 billion pounds.

Jet2holidays has announced the addition of Formentera in the Balearics to its Summer 24 programme, giving customers the opportunity to experience laid-back luxury on this quaint island.

Related news

The exciting programme of holidays has gone on sale from 11 UK airports – Belfast International, Birmingham, Bristol, East Midlands, Edinburgh, Glasgow, Leeds Bradford, Liverpool John Lennon, London Stansted, Manchester and Newcastle International. The expansion means that Jet2holidays will operate to well over 550 beach and city resorts, across 60 destinations in Summer 24.

The UK’s largest tour operator has once again responded to demand from customers and independent travel agents by adding Formentera in Spain for Summer 24, with holidays operating from 16th May through to 5th October.

With multiple weekly departures available from 11 airports, packages with Jet2holidays include award-winning flights to Ibiza airport, 22kg baggage, free child places and transfers for only a £60 per person booking deposit.

Just 20km south of Ibiza, Formentera is a hop, skip and a jump away via a short transfer.
Once arriving at Ibiza airport, customers will receive ferry tickets from the Jet2holidays Resort Customer Helper before taking a coach to Ibiza Town Port. The ferry operates every 30 minutes and coach transfers are also provided upon arrival in Formentera.

The most southerly of the Balearic islands, Formentera is best-known for its untouched beaches and crystal clear waters. With resorts on offer including Platja de Migjorn and Es Pujols, customers looking for experience-based holidays can enjoy water sports, snorkelling, diving and boat trips alongside bike and scooter hire.

The salt flats offer relaxing, scenic cycling and at only 20km long and 2km wide at its narrowest point, Formentera boasts breath-taking views and deserted coves.

Steve Heapy, CEO of and Jet2holidays, said: “We are incredibly excited to be launching packages to Formentera for Summer 24. As well as giving customers the opportunity to enjoy a well-deserved summer holiday, the unspoilt island is a peaceful paradise and one of the most idyllic destinations in the Balearics.”

He added: “As well as experiencing strong demand for last-minute Summer 23 getaways, we are also seeing customers wanting to book ahead for next summer and the Balearics are proving popular. This expansion further strengthens our biggest ever summer programme as we continue to offer customers and independent travel agents unrivalled choice and flexibility, thanks to the launch of Formentera. We know that it will be a popular destination as customers look to escape the UK and enjoy some much-needed summer sun.”