Jet2 (United Kingdom) (LS, Leeds/Bradford) has reevaluated its Spain operations and will be cutting its headcount in the country, a spokesperson for the company confirmed to ch-aviation.
The planned cuts will be implemented among the 996 staff in Spain, and the affected destinations include Palma de Mallorca, Alicante, Tenerife Sur, Gran Canaria, Lanzarote and Fuerteventura.
“We have recently reviewed our operations in Spain. As a result, we must sadly propose a number of colleague redundancies across resort flight check-in, flight deck, and cabin crew roles. We deeply regret these proposed redundancies, and we will be consulting with appropriate representatives of the affected colleagues to ensure that all options are fully considered,” a spokesperson said.
According to ch-aviation schedules, Jet2 operates to a total of 13 destinations in Spain, six of which are on the mainland, three on the Balearic Islands, and four on the Canary Islands. The company's resort flight check-in service operates in the Canaries and the flight deck and cabin crew roles are located in Palma and Alicante.
In January, CEO Steve Heapy warned that Jet2 would only be willing to grow its business in Spain if Spanish airport operator AENA holds off on a 4% tax hike.
For its part, Jet2 plc, the parent holding of Jet2, recorded a jump of 24% in annual revenue to GBP4.4 billion pounds (USD5.6 billion) in the six months ended September 30, 2023, the company’s interim report revealed. Its profit for the period before taxation was GBP496 million (USD628 million), which compares to GBP356 million (USD450 million) in the same six-month period in 2022. Also, compared to a year earlier, Jet2 plc saw seat capacity increase by 7% and it achieved an average load factor of 90.7%, equalling 2022.
According to analyst estimates, Jet2 plc’s annual revenue is expected to reach GBP7.93 billion (USD10 billion) in the fiscal period ending March 2024 and GBP9.03 billion (USD11.4 billion) for the year ending March 2025, Seeking Alpha data shows. In the full year 2023, it posted revenue of GBP5.03 billion (USD6.4 billion) and an operating profit of GBP394 million (USD500 million), which compares to a loss of GBP323.9 million (USD410 million) for the previous fiscal year.