Dart Group (DTG) , shares rallied after it said that it has received “encouraging” levels of later season bookings and strengthening demand for its products.
The AIM listed company owns the British airline and tour operator Jet2Holidays, and told investors on Friday that it has experienced increased customer demand since competitor Thomas Cook entered into compulsory liquidation in September.
Dart Group revised its profit expectations, believing that its year end 2020 guidance will be exceeded.
Shares in Dart Group jumped over 15% to 1076p on Friday after the update
Shares in Dart Group have increased 29.3% year to date, compared to the FTSE’s 5%.
Investors will be anticipating further updates when it publishes its interim results in a few weeks on 21 November 2019.
Despite the positive impact Thomas Cook’s liquidation has had on its business, it remains cautiously optimistic.
The company said: “Given the cost pressures the Travel industry is facing in general, which will intensify given the weakness in sterling, plus the deepening Brexit uncertainty and the impact this may have on consumer confidence, we remain very cautious in our outlook.”
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