Dart Group PLC
23 October 2002
For Immediate Release 23 October 2002
DART GROUP PLC
AVIATION DIVISION EXPANSION
Dart Group PLC, the aviation services and distribution group, announces today
that it will be expanding its Aviation Division's successful passenger
operations to offer low cost passenger services from Leeds Bradford
International Airport to European business and leisure destinations.
The Group has named the new low cost service 'Jet 2' which will be operated by
its wholly-owned subsidiary, Channel Express (Air Services), alongside its
established contract passenger and cargo operations. This business will
enable the Group to leverage its existing skill base and, in future, will also
maximise the utilisation of its Boeing 737-300 'Quick Change' aircraft, which
fly passenger services by day and cargo by night. The Group's management has
been enhanced with further specialist passenger expertise. The Jet 2 service
is seen as a natural extension of the Aviation Division's passenger operations,
utilising both aircraft from the existing fleet and further Boeing 737-300
aircraft that will be acquired to support the expansion.
In the year to 31 March 2003, start up costs in the order of £2m will be
incurred. In the first full year of operation, Jet 2 is forecast to be
earnings neutral and become earnings enhancing thereafter. As an existing
operating airline, the Group's Aviation Division already has the majority of the
fixed cost structure to support this expansion which, therefore, should be
viewed as incremental to the existing core operations.
Commenting, Philip Meeson, Chairman and Chief Executive, said 'We are delighted
to be working with Leeds Bradford International Airport which has a catchment
area of 9.5 million people who are not adequately served by low cost carriers.
It is my belief that JET 2 will be a significant contributor in the growth of
the Group's profits in the years to come'.
Enquiries: Philip Meeson, Chairman and Chief Executive
Tel: 01202 597676 Mobile: 07785 258666
Mike Forder, Group Finance Director
Tel: 01202 597676 Mobile: 07721 865850
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.