AGM Statement & Intended Move to the Main Market
Summary by AI BETAClose X
3 September 2026
Jet2 plc ("the Group" or "the Company")
AGM trading update and intended move to the Main Market
Jet2 plc, the UK's leading provider of package holidays and third largest airline, announces the below trading update ahead of its Annual General Meeting ("AGM") later today. The Group also announces its intended move to the Main Market of the London Stock Exchange.
Trading performance
Since announcing our Preliminary Results on 8 July 2026, we have seen sustained demand for our award-winning Jet2 leisure travel products.
Summer 2026 seat capacity is 7.6% higher than Summer 2025 at 19.9m seats, with booked-to-date passengers up 8.8% and growth across both package holiday and flight-only products.
Customers have continued to book closer to departure throughout the peak summer period and, encouragingly, the combined booked average load factor to the end of August was 1.5ppts ahead of the prior year, reflecting disciplined capacity management, targeted investment in load factor and underpinned by attractive pricing.
Our London Gatwick operation continues to perform ahead of our initial expectations, supported by a stronger-than-expected package holiday mix. Building on this encouraging start, we have increased the number of aircraft on sale from Gatwick to seven for Summer 2027 as we continue to execute our strategic growth plans in the South of England.
Looking ahead to Winter 2026/27 which is at an early stage of its booking cycle, on-sale seat capacity is 8.0% higher than Winter 2025/26 at 5.9m seats, the increase primarily concentrated into London Gatwick with the addition of 0.4m seats, alongside disciplined growth across our more established bases of 0.6%. Early indications show similar booking trends to Summer with passengers still booking closer to departure.
Our fuel and foreign exchange hedging positions continue to provide significant protection for the current financial year, with 93% of full year jet fuel requirement now hedged at an average price of $753 and over 90% of foreign exchange also hedged, delivering a high degree of cost certainty.
We will provide a further trading update at our interim results that are to be announced on 18 November 2026.
Intended move to the Main Market
The Board is also pleased to announce its intention to seek admission of the Company's entire issued ordinary share capital to the equity shares (commercial companies) category ('ESCC') of the Official List and to trading on the main market for listed securities (the 'Main Market') of the London Stock Exchange plc (together 'Admission'). The Company intends for Admission to occur before the end of its current financial year and will provide updates as appropriate in due course.
Over the past decade, the Group has established itself as the UK's leading tour operator and third-largest airline. Today, more than 90% of the UK population is within a 90-minute drive of one of our 14 UK bases and customer satisfaction consistently exceeds 90%. This growth has been achieved alongside strong financial performance, with Group revenue increasing at a compound annual growth rate of 19%.
To reflect this track record of growth, the Board of Jet2 has agreed that now is the right time to move to the Main Market. Whilst acknowledging the highly important role AIM has played in supporting the Group's development over many years, the Board believes the intended move represents a natural next step in Jet2's development. It reflects the Group's scale, continued evolution, strong track record and the Board's confidence in its long-term growth prospects, whilst providing a platform to support its future development and enhance its visibility with a broader range of UK and international institutional investors.
Steve Heapy, Jet2 plc Chief Executive Officer commented:
"We have been encouraged by the sustained level of demand for both our holiday products through the peak summer season which gives us confidence for the remainder of the financial year. Jet2 is a business with strong foundations, a flexible and differentiated operating model and a trusted brand that continues to resonate with customers across the UK. Supported by a strong balance sheet and our People, Service, Profits philosophy, we remain confident in our ability to deliver sustainable, long-term profitable growth and to be the UK's Leading and Best Leisure Travel business.
As the UK's leading tour operator and third-largest airline, we also believe this is the right time to announce our intention to move to the Main Market of the London Stock Exchange, reflecting the scale of the business we have built, our proven track record of delivery and the opportunities that lie ahead."
Certain information contained in this announcement would have been deemed inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time, until the release of this announcement.
For further information please contact:
|
|
The person responsible for making this Announcement is Gary Brown, Group Chief Financial Officer.
Notes to Editors
Jet2 plc is a Leisure Travel Group, comprising Jet2holidays, the UK's leading provider of ATOL protected package holidays to leisure destinations across the Mediterranean, Canary Islands and European Leisure Cities and Jet2.com, the UK's third largest airline by number of passengers flown, which specialises in scheduled holiday flights. In the financial year ended 31 March 2026, over 63% of flown passengers took an end-to-end package holiday with the remainder taking a flight-only.
Jet2 currently operates from 14 UK airport bases at Belfast International, Birmingham, Bournemouth, Bristol, East Midlands, Edinburgh, Glasgow, Leeds Bradford, Liverpool John Lennon, London Gatwick, London Luton, London Stansted, Manchester and Newcastle.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 26 minutes ago Lloyds Banking Group
- 52 minutes ago Staffline Group
- 1 hour ago Polar Capital Global Financials Trust
- 1 hour ago Law Debenture Corp.
- 1 hour ago Everyman Media Group