Jet2 lifts full-year operating profits 23%

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UK low-cost carrier Jet2 generated an operating profit of £26.7 million ($40.5 million) for the year ending 31 March 2013, a 23% increase on the year before.

The leisure airline generated an overall profit of £29.3 million. Turnover, including sales of seats to its sister package holiday company Jet2holidays, increased 20% to £556.2 million in 2012

Parent Dart Group says the result was driven by a combination of increased demand from Jet2holidays, higher load factors and improved ticket yields.

Passengers increased by 13% to 4.84 million and yields grew 16% to £59.67.

Load factors grew from 87% in the 2011/2012 financial year, to 90%, driven by a 17% increase in seats booked with Jet2holidays.

Retail revenue per passenger increased to £30.96 from £27.86 and year-on-year fuel costs per passenger improved 3%.