‘Geriatric’ low cost airline, Jet2.com survives through diversity
Following a very positive result in 2008/9 with the aviation division taking the lead as the driving force of the company rather than the distribution division, Dart Group, owner of the LCC Jet2.com, felt the chill of the recession in the year ended Mar-2010. A 2008/09 operating profit that had risen from GBP300,000 to GBP31.1 million over the previous two years fell back to GBP22.5 million, with operating profit in the aviation division slipping by 57.8% to GBP15.1 million. Aviation division revenue fell to GBP312 million (-4.4%).
