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Jet2 plc

Summary

Jet2 plc (formerly Dart Group plc) is a British multinational airline company based in Leeds, England.

Jet2 plc
FormerlyCarpenter's (1971-1975)
Express Air Freight (1975-1983)
Channel Express (1983-1991)
Dart Group plc (1991-2020)
Company typePublic limited company
AIM: JET2
HeadquartersLeeds, England, UK
Key people
Steve Heapy (Chief Executive Officer)
ProductsCharter and scheduled passenger airlines, package holidays, cruise lines, hotels and resorts
RevenueIncrease £5,003.5 million (2023)
Increase £394.0 million (2023)
Increase £290.8 million (2023)
Total assetsIncrease £3.38 billion (2020) [1]
Total equityIncrease £634.10 million (2020) [1]
SubsidiariesJet2.com
Jet2holidays
Websitewww.jet2plc.com

Its head office is listed as Low Fare Finder House on the grounds of Leeds Bradford Airport, England.[2] Subsidiary Jet2.com has its head office in the same building.[3] The commercial operations for the company are based at Holiday House, an office building in Leeds city centre.

The company's name for most of its existence was derived from the type of aircraft that it first flew, the Handley Page Dart Herald. After selling off other units, the company rebranded as Jet2 in 2020. The stock ticker symbol also changed to Jet2 to reflect the name change,

History edit

 
Dart Group logo used until 2020.

Leased aircraft edit

The company's operations originated in 1971 when Art Carpenter formed two companies: Carpenter's Air Services Ltd to fly flowers using contracted aircraft to the UK mainland from Guernsey; and Carpenter's Transport to distribute the flowers on the UK mainland to wholesale markets. In 1975, these two companies became Express Air Freight.

Purchase of aircraft edit

In 1978, the company purchased Handley Page Dart Herald aircraft to fly flowers and fresh produce from the Channel Islands to Bournemouth Airport, and consumer goods from the UK via Bournemouth to the Channel Islands. In 1979, it became Express Air Services and flew contracts for the Royal Mail to the Channel Islands from Bournemouth, Bristol and Liverpool from 1980.

Purchase by Philip Meeson edit

In 1983, the company changed its name to identify with its regional route, becoming three companies under the Channel Express name, which had the air freight, running of the two Dart Herald aircraft, and the distribution within the UK as separate operations. It was purchased in 1983 by Philip Meeson, becoming Channel Express Group. It was split into Aviation Services and Distribution divisions. In 1985 a third Dart Herald aircraft was bought, which flew an overnight parcels service from Birmingham Airport to Nuremberg and Hanover.

Flotation edit

Channel Express Group Ltd floated on the UK's Unlisted Securities Market (USM) and had seven Super Dart Herald aircraft. In 1989 it bought the first of three Lockheed Electra aircraft, as well as having nine Super Dart Herald aircraft. In 1991, the company changed its name to Dart Group plc and floated on the London Stock Exchange.

Fowler Welch edit

In 1994 it purchased the Spalding-based company Fowler Welch, a temperature-controlled distribution company. The first of seven Fokker F27 aircraft was purchased in 1994. Its airline group, Channel Express (Air Services) bought its first 257-seater Airbus A-300B4 in 1996. It was converted to become a freighter at BAE Systems in Filton. A southern distribution centre was built in Portsmouth in 1999 under the Channel Express name. The Coolchain distribution company in Kent was bought in 1999. By 2000 the company had 1,500 employees and two divisions (air and freight distribution). In 2001, two Boeing 737 aircraft were purchased with a quick-change facility allowing a freight aircraft to transform into a passenger aircraft in only 30 minutes.

On 1 June 2020 it was confirmed that Dart Group PLC had sold Fowler Welch for £98 million to Culina Group Limited.[4]

Jet2.com edit

In 2002, four Boeing 737 aircraft were purchased with two becoming 737 QC (Quick change) aircraft and two as passenger aircraft. From February 2003, the Jet2 low-cost airline began flying from Leeds Bradford Airport to mainland Europe destinations. Fowler-Welch and Coolchain merged to become Fowler-Welch Coolchain Ltd in 2003. Eight Boeing 737-300 aircraft (of which five were passenger aircraft) were purchased in 2003 to bring the total to 12. In 2004, six more Boeing 737-300 passenger aircraft were purchased, and routes from Belfast International Airport started in April and from Manchester Airport in December. In 2005, routes began from Newcastle Airport in October and two Boeing 757-200 aircraft were purchased. In 2006, six more Boeing 757-200 passenger aircraft were bought and the Channel Express Portsmouth distribution base was sold to Ferryspeed C.I. Ltd in June. A package holiday company, Jet2holidays, was formed in January 2007.

Corporate Affairs edit

Below is the financial information of Jet2 plc and its predecessor Dart Group plc:

Year Revenue Net Income
2002/03[5] £197.46 million £7.41 million
2003/04[6]  £228.2 million  £5.65 million
2004/05[7]  £267.99 million  £5.61 million
2005/06[8]  £310.1 million  £11.2 million
2006/07[9]  £349 million  £13.6 million
2007-08[10]  £429.3 million  £8.7 million
2008-09[11]  £439.3 million  £27.1 million
2009-10[12]  £434.5 million  £15.6 million
2010-11[13]  £542.9 million  £17.3 million
2011-12[14]  £683 million  £22.7 million
2012-13[15]  £869.2 million  £31.2 million
2013-14[16]  £1.12 billion  £35.9 million
2014-15[17]  £1.25 billion  £32.8 million
2015-16[18]  £1.4 billion  £88.8 million
2016-17[19]  £1.72 billion  £76.7 million
2017-18[20]  £2.22 billion  £108.9 million
2018-19[21]  £3.14 billion  £145.6 million
2019-20[22]  £3.58 billion  £116 million
2020-21[23]  £395.4 million  £(271.2) million
2021-22[24]  £1.23 billion  £(315.4) million
2022-23[25]  £5.03 billion  £290.8 million

Operations edit

The company has the Jet2.com low cost airline that has its headquarters on the grounds of Leeds Bradford Airport, along with its subsidiary Jet2holidays. The airline operates from 10 UK bases, such as Leeds Bradford International, Newcastle International Airport, Edinburgh Airport, Manchester Airport, Glasgow Airport, Belfast International Airport, East Midlands Airport, Birmingham Airport, London Stansted Airport and Bristol Airport. They also have 3 overseas bases, Alicante Airport, Palma de Mallorca Airport and Tenerife South Airport. As of March 2024 Jet2.com will launch operations from Liverpool John Lennon Airport

See also edit

References edit

  1. ^ a b "Jet2 PLC (JET2) - Director Deals | Shares Magazine".
  2. ^ "Contacts." Dart Group. Retrieved on 31 December 2011. "Registered Office Dart Group PLC Low Fare Finder House Leeds Bradford International Airport Leeds LS19 7TU United Kingdom"
  3. ^ "Jet2.com Terms Of Use Archived 16 December 2011 at the Wayback Machine." Jet2.com. Retrieved on 31 December 2011. "Registered office: Low Fare Finder House, Leeds Bradford Airport, Leeds, LS19 7TU."
  4. ^ "Jet2.com owner in £98m sell off". The Yorkshire Evening Post. Retrieved 1 June 2020.
  5. ^ "Dart Group plc Annual Report 2003" (PDF). Dart Group PLC. Retrieved 12 January 2021.
  6. ^ . Dart Group PLC https://www.jet2plc.com/uploadedfiles/june2004.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  7. ^ . Dart Group PLC https://www.jet2plc.com/uploadedfiles/dart-june2005.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  8. ^ . Dart Group PLC https://www.jet2plc.com/uploadedfiles/dart2006.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  9. ^ . Dart Group PLC https://www.jet2plc.com/uploadedfiles/dart2007.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  10. ^ . Dart Group PLC https://www.jet2plc.com/uploadedfiles/dart2008.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  11. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources_(Images,_docs_etc)/Documents/Report_And_Accounts/DartReport09.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  12. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources_%28Images,_docs_etc%29/Documents/Report_And_Accounts/DartReport10.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  13. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources_%28Images,_docs_etc%29/Documents/Report_And_Accounts/DartReport11.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  14. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources_%28Images,_docs_etc%29/Documents/Report_And_Accounts/complete_results_2011-12.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  15. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources_(Images,_docs_etc)/Documents/Report_And_Accounts/complete_results_2012-13.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  16. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources/Documents/pdf/Dart-group-AR2014_140730.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  17. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources/Documents/pdf/Dart-Group-AR2015.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  18. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources_(Images,_docs_etc)/Documents/Report_And_Accounts/Report-and-Accounts-2016.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  19. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources_(Images,_docs_etc)/Documents/Report_And_Accounts/Report-and-Accounts-2017.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  20. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Content/Pages/Company_Reports_post_2009/Report_and_Accounts_2018/Dart%20Group%20AR2018%20web%20ready.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  21. ^ . Dart Group PLC https://www.jet2plc.com/uploadedFiles/Dart_Group_Plc/Shared_Resources_(Images,_docs_etc)/Documents/Report_And_Accounts/Dart-AR2019.pdf. Retrieved 12 January 2021. {{cite web}}: Missing or empty |title= (help)
  22. ^ "Archived copy" (PDF). Dart Group PLC. Archived from the original (PDF) on 29 April 2021. Retrieved 12 January 2021.{{cite web}}: CS1 maint: archived copy as title (link)
  23. ^ . Dart Group PLC https://www.jet2plc.com/-/media/jet2/Flights/pdf/Jet2_PLC/Annual_report_2021.pdf. Retrieved 5 April 2023. {{cite web}}: Missing or empty |title= (help)
  24. ^ . Dart Group PLC https://www.jet2plc.com/-/media/Jet2/Flights/pdf/Jet2_PLC/Annual_report_2022. Retrieved 5 April 2023. {{cite web}}: Missing or empty |title= (help)
  25. ^ "Supplemental Information 3: An excerpt from Data Downloads page, where users can download original datasets". doi:10.7717/peerj.9467/supp-3. {{cite web}}: Missing or empty |url= (help)

External links edit

  • Official website

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