JET2 is preparing to soar into the London Stock Exchange’s main market after a bumper summer for bookings.
The holiday giant, Britain’s biggest tour operator and third-largest airline, said the planned switch from the AIM reflected its growth and increasing scale.
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It expects the move from the Alternative Investment Market to take place before the end of its current financial year.
Demand for sunshine breaks has remained strong despite pressure on household budgets. Summer passenger bookings for both package holidays and flight-only tickets are 8.8 per cent ahead of last year.
Jet2 has put 19.9million seats on sale for this summer, up 7.6 per cent. Planes were also fuller by the end of last month, with the average load factor — the share of available seats booked — rising 1.5 percentage points.
Its new Gatwick operation is beating initial expectations, helped by a higher proportion of package holiday customers.
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The company will offer flights from seven aircraft at the airport next summer as it pushes further into southern England.
Revenue climbed 4 per cent to £7.5billion in the year to March, while the group held net cash of just over £2billion.
More than 90 per cent of the UK population now lives within a 90-minute drive of one of its 14 airport bases.
Chief executive Steve Heapy said sustained summer demand had boosted confidence for the rest of the year.
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He called the main market switch the “right move”, citing Jet2’s strong balance sheet, trusted brand and long-term growth opportunities.
HIGH STREET A BIT LOW
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High streets suffered another difficult month in August.
Retail footfall fell 1.7 per cent compared with last year, despite cooler weather tempting more people out.
Figures from the British Retail Consortium and Sensormatic show high streets were hardest hit, with visitor numbers down 3.1 per cent.
Shopping centres recorded a smaller 0.5 per cent fall.
Retail parks saw a 1 per cent rise, with families buying essentials and back-to-school goods.
Northern Ireland alone recorded strong growth, up 2.8 per cent.
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Cinema chain Everyman is back in profit after a rise in admissions and ticket prices.
The London-listed group had 2.6million customers in the six months to July 2 — up 20.5 per cent on last year.
Its average ticket price was up 4.1 per cent to £12.97, while filmgoers spent an average of £11.41 on food and drink.
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Revenue jumped 23.5 per cent to almost £70million.
The chain posted a £1.9million pre-tax profit.