March 11, 2020 / 8:06 AM / 19 days ago

BRIEF-Dart Group Sees FY Profit Before Foreign Exchange Revaluation & Tax Significantly Ahead Of Market View

March 11 (Reuters) - Dart Group PLC:

* TRADING UPDATE

* OUR CURRENT CUMULATIVE SUMMER 2020 BOOKINGS REMAIN ABOVE THOSE AT THIS TIME LAST YEAR

* MOMENTUM HAS WEAKENED OVER RECENT WEEKS WITH INCREASED REPORTING OF COVID-19 CASES IN EUROPE

* CURRENT CUMULATIVE SUMMER 2020 BOOKINGS REMAIN ABOVE THOSE AT THIS TIME LAST YEAR

* SEES FY PROFIT BEFORE FOREIGN EXCHANGE REVALUATION & TAX TO BE SIGNIFICANTLY AHEAD OF CURRENT MARKET EXPECTATIONS

* UNTIL VERY RECENTLY, CUSTOMER DEMAND FOR PACKAGE HOLIDAYS AND FLIGHT-ONLY LEISURE TRAVEL PRODUCTS HAS REMAINED CONSISTENTLY STRONG

* FUTURE REDUCTIONS OF FY21 FLYING CAPACITY TO RESULT IN PROPORTION OF EXISTING HEDGING CONTRACTS BECOMING INEFFECTIVE & IMPACTING PROFITS

* REDUCING CAPACITY ON SOME ROUTES WHERE WARRANTED BECAUSE OF CORONAVIRUS Source text for Eikon: Further company coverage:

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