Trading Update

Jet2 PLC

29 April 2026

 

29 April 2026

Jet2 plc

Trading Update

FY26 Results in line with market expectations

Jet2, the UK's leading provider of package holidays and third largest airline, is pleased to provide the following update on trading.

Year ended 31 March 2026 (FY26)

Following our trading update on 25 February 2026, the Group expects to report Operating profit of between £435m and £440m (FY25: £446.5m), in line with current market expectations. This includes £11m of promotional and resourcing startup costs associated with the launch of our London Gatwick base, which commenced operations on 26 March 2026.

Our balance sheet position remains strong, with total cash at 31 March 2026 of £3.3bn, net cash of £2.0bn and access to an undrawn £500m Revolving Credit Facility. This sensible and disciplined approach to balance sheet management enables us to navigate short-term volatility effectively, continue to invest in future growth opportunities, and has allowed us to return £363.0m of capital to shareholders during the year.

Year ending 31 March 2027 (FY27)

Looking ahead we believe the strength of Jet2's end-to-end business model continues to differentiate the Group within a competitive market. In addition, the successful operational launch at London Gatwick takes Jet2 to the UK's biggest holiday airport for the first time, with over 90% of the British public now within a 90-minute drive of one of Jet2's 14 UK bases.

On sale capacity for Summer 2026 is currently 7.7% higher than Summer 2025, at 19.9m seats. Booked to date passengers are up by 6.2% with both package holidays and flight-only showing positive growth. Since commencement of the conflict in the Middle East, the booking profile has become increasingly close to departure. At present, Q1 (April, May, June) combined average load factor is in line with the prior year, with the current geopolitical uncertainty limiting visibility for the peak summer season and beyond. As previously stated, we continue to invest in load factor and remain fully committed to pricing that is attractive and represents real value to our Customers.

The Group has a strong hedged position with 87% of its summer requirement hedged and jet fuel swaps at an average price of $707 per metric tonne giving us a high degree of cost certainty. We are also maintaining frequent dialogue with our fuel suppliers and airport partners on fuel supply.

The Group will announce its Preliminary Results for the year ended 31 March 2026 on 8 July 2026.

Steve Heapy, Chief Executive Officer, commented:

"FY26 was another strong year for Jet2, topped off by the successful launch of operations at London Gatwick which is performing ahead of our initial expectations with over 0.4m passengers booked for the summer season. As ever, our focus on providing the very best Customer First service underpinned our performance in the year, and with that, I would like to thank every one of our Colleagues for their unwavering hard work and support.

Our fully integrated, customer-focused and service-led business model enables growth and resilience, setting the business apart when it comes to earning customer loyalty and repeat bookings. This is supported by our growing fleet of more fuel efficient and quieter A321neo aircraft, with 31 in operation this summer.

Clearly, we continue to monitor the situation in the Middle East but remain focused on our medium-term goals. Jet2 is a business with strong fundamentals, an attractive product offer, and a brand synonymous with VIP customer service. These are the attributes that sit at the heart of our People, Service Profits philosophy and give me confidence for long-term profitable growth as more and more customers rely on Jet2 for their hard-earned holidays."

For further information, please contact:

Jet2 plc Steve Heapy, Chief Executive Officer	Tel:          [phone]
Gary Brown, Group Chief Financial Officer
Institutional investors and analysts: Mark Buxton, Finance & Investor Relations Director	Tel:          [phone]
Cavendish Capital Markets Limited - Nominated Adviser Matt Goode / George Lawson	Tel:          [phone]
Canaccord Genuity Limited - Joint Broker Adam James / Harry Rees	Tel:          [phone]
Jefferies International Limited - Joint Broker Ed Matthews / Jee Lee	Tel:          [phone]
Headland Consultancy - Financial PR Ed Young / Will Smith / Jack Gault	Tel:          [phone]

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 its most recent reported financial year ended 31 March 2025, over 66% of flown passengers took an end-to-end package holiday with the remainder taking a flight-only. During the same period over 80% of Group revenue related to package holidays with the majority of the balance 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.

 

END