The owner of airline Jet 2 said today its business has been boosted by the collapse of package holiday company Thomas Cook last month.
Dart Group said it had experienced “increased levels of customer demand” since Thomas Cook went into compulsory liquidation.
The company said it had received “encouraging levels of later season bookings,” with demand for both flights and package holidays strengthening.
Dart said that the strong booking trend meant it may exceed market expectations for profit before foreign exchange revaluations and tax for the year to 31 March 2020.
Shares jumped 8.5 per cent this morning to 1,015p.
Despite strong trading, the company said it was still concerned about the cost pressure the travel industry is facing, which it said would intensify with the weakness of sterling.
The company also said it was worried about the impact of Brexit on consumer demand, and said “we remain very cautious in our outlook”.
On Wednesday, Sunderland-based Hays Travel agreed to buy 555 Thomas Cook stores, providing a lifeline for 2,500 workers.
Its owners were bullish on the package holiday sector, saying there has been “a huge resurgence in package holidays in recent years”.
Picture credit: Jet 2