Package holidays put Jet2 shares ahead of travel rivals

During what’s been a tough year for European airline stocks, one UK carrier is bucking the gloom.Jet2 Plc shares have risen 15% this year, with the stock extending gains for a sixth straight session on Tuesday. Meanwhile, leisure carrier rivals Ryanair Holdings Plc and TUI AG are both in negative territory for 2024, while EasyJet Plc is up just 2.5%. The reason may partly lie in Jet2’s strength as a provider of cheap package holidays at a time when many consumers are tightening their purse strings. Package holidays have received a boost since the pandemic as younger travelers became tempted by the prospect of cheaper and hassle-free holidays. The collapse of Thomas Cook Group Plc in 2019, once among the industry leaders, also helped Jet2 to gain market share in the UK, according to Ed Vyvyan, an analyst at Redburn Atlantic. Jet2 has “a strong balance sheet and net cash position, a healthy order book out to the start of the next decade at advantageous prices and a well-seasoned management team,” said Davy analyst Stephen Furlong. <br/>