Dart Group PLC AGM Statement and Announcement of Aircraft Order (9146X)
03 September 2015 - 4:00PM
UK Regulatory
TIDMDTG
RNS Number : 9146X
Dart Group PLC
03 September 2015
3 September 2015
Dart Group PLC ("the Company")
Annual General Meeting Statement and Announcement of Aircraft
Order
At the Company's Annual General Meeting later today, Philip
Meeson, Group Chairman and Chief Executive, will make the following
statement:
"The good start to the financial year has continued with strong
summer 2015 trading in our Leisure Travel business. Demand for our
package holiday products continues to grow and as a result the
number of package holiday customers as a proportion of overall
flown customer numbers has increased. The business has also
achieved higher airline ticket yields and load factors than in
summer 2014. This performance is against a backdrop of slightly
lower seat capacity.
Early indications for winter 15/16 Leisure Travel bookings are
satisfactory.
We are also pleased that Fowler Welch, our Distribution &
Logistics business, is currently trading ahead of last year as it
continues to focus on growing its revenue pipeline and delivering
operational efficiency improvements.
In view of the continued strong demand for our Leisure Travel
package holiday and flight-only products, the Board is optimistic
that Group performance for the financial year ending 31 March 2016
will materially exceed current market expectations. The Company
will provide a further trading update in mid-October following the
half year end.
The Board is also pleased to announce that, in order to meet the
future anticipated growth of its Leisure Travel business and for
planned fleet replacement, the Company has entered into an
agreement with Boeing to purchase 27 new Boeing 737-800NG aircraft.
These aircraft will be delivered between September 2016 and April
2018.
At current list prices, the total value of this transaction is
approximately $2.6 billion though the Company has negotiated
significant discounts from the list price. The aircraft are
expected to be funded through a combination of internal resources
and debt."
For further information contact:
Dart Group PLC Tel: 0113 238 7444
Philip Meeson, Group Chairman and Chief
Executive
Gary Brown, Group Chief Financial Officer
Smith & Williamson Corporate Finance Tel: 020 7131 4000
Limited
Nominated Adviser
David Jones
Canaccord Genuity - Joint Broker Tel: 020 7523 8000
Guy Marks / Mark Whitmore
Arden Partners - Joint Broker Tel: 020 7614 5900
Christopher Hardie
Buchanan - Financial PR Tel: 020 7466 5000
Richard Oldworth
This information is provided by RNS
The company news service from the London Stock Exchange
END
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