Low-cost carrier Jet2 has continued to reap the benefits of Thomas Cook’s demise. On 8th November 2019, the airline announced that it will now be occupying additional slots at three key UK airports.
Increased capacity at three UK-based airports
Less than two months ago Jet2 announced that it would be offering an extra 170,000 seats for its winter schedule. Bosses said the move was due to increased consumer demand and not additional slots left from the collapse of Thomas Cook. But yesterday, the airline changed its tune.
In a statement, the airline said that it had purchased slots from Thomas Cook at Manchester Airport, London Stansted and Birmingham Airport. Flight Global reports that Thomas Cook had 53 slots at these three airports. Whilst around a third of its Manchester slots flew long-haul, Jet2 will not be following suit. It’s already listed multiple new destinations for its summer and winter schedules to fly its customers around Europe.
The CEO of Jet2.com said that the slots were important for growing routes out of these airports. Steve Heapy continued:
“We have been adding more flights and aircraft, resulting in increased capacity, at each of these bases for many years. Today’s announcement is the latest demonstration of our commitment to providing holidaymakers with more choice and flexibility when it comes to flying to sun, city and ski destinations with our award-winning airline.”
Jet2 has been rather tight-lipped about the financial data of its new slot acquisition. Whilst easyJet recorded spending around $42 million on its Thomas Cook slots at London Gatwick and Bristol, Jet2 has not released any such information. We might have to wait for Jet2 to release its financial report before we know how much it spent.
But it’s not as though the airline is strapped for cash. Like many other air carriers, it’s been able to profit from Thomas Cook’s closure. It believes that it will exceed its expected profit margin.
Thomas Cook’s loss boosts profits
Jet2 recently said that it had experienced an increase in customer demand due to the collapse of Thomas Cook. The increased interest has no doubt boosted its profits allowing it to operate these new and additional routes.
But the airline has said that it remains cautious about the future. It said that amid Brexit uncertainties and a weakening of the pound, it is not sure how its customers will react. Its Board will release interim results on 21st November 2019.
But for now, it seems like Jet2’s strategy is to offer the world to its customers in the hope that enough will bite.
More slots mean more choice
Jet2 has been presenting its customers with a plethora of new holiday destinations in the past few months. Many of these destinations fly from the three airports where it has announced additional slots. Some of its new routes include the following destinations:
- Innsbruck, Austria from Manchester and Birmingham airports
- Lesvos, Greece from Manchester and London Stansted
- Kalamata, Greece from Manchester and London Stansted
- Skiathos, Greece from Manchester, Birmingham and London Stansted
- Tivat, Montenegro from London Stansted, and Manchester Airport
- Verona, from Manchester.
Are these new airport slots welcome news to you? Did you foresee Jet2’s purchase? Let us know in the comments below!