Jet2 reaffirms late booking trend as annual profits soar

Firm's preliminary results for the year reveal passenger numbers

Jet2 saw pre-tax profits soar by 12% to £593 million in the year to March on the back of record passenger carryings. 

Travel agent commission increased by 11% to £184.5 million due to increases in the average package holiday price and higher independent travel agent booking volumes.

Trading in the current financial year to date was described as being “in line with expectations”. 

Summer 2025 capacity of 18.6 million seats is 8% higher than last summer.

Bookings for this summer continue to be made closer to departure as previously announced, “but it is clear that customers’ eagerness to get away from it all and enjoy a relaxing overseas holiday in the sun remains strong, provided pricing is attractive,” the owner of Jet2.com and Jet2holidays said.

“We are currently trading in line with market expectations, supported by our flexible and fully integrated business model which provides the group with the ability to balance average load factor, pricing and product mix, in order to maximise overall profitability.”

Passenger numbers in the 12 months to March 31 rose by 12% to 19.77 million, with higher margin package holiday numbers up by 8% to 6.58 million and flight-only rising by 18% to 6.62 million. Annual revenue rose by 15% year-on-year to £7.17 billion.

This came as operations were opened at Bournemouth and Luton airports, meaning 85% of the UK population live within a 90-minute drive of one of 13 Jet2 bases. 

A fifth aircraft was added at Liverpool airport following strong demand, and there was a broadening of the package holiday offering with new destinations added including Morocco, Murcia and Braga.

Seven new generation Airbus A321neos were added, meaning the group will have a total fleet of 135 aircraft this summer. 

The group also has a “firm pipeline” of 132 A321neos for delivery through to 2035.

Jet2 chief executive Steve Heapy said: "These results reaffirm the enduring appeal, resilience and differentiation of our product offering founded on end-to-end customer care, all of which help to create cherished holiday memories for our customers. 

“The strength of our proposition, delivered by colleagues who are dedicated to providing award-winning customer first service, will enable us to fulfil our long-term strategy: to be the UK’s leading and best leisure travel business.”

Heapy added: “We are currently trading in line with market expectations, supported by our flexible and fully integrated business model which provides the group with the ability to balance average load factor, pricing and product mix, in order to maximise overall profitability.

“We are fully hedged for fuel and foreign exchange for the season and over 90% for the full financial year and our carbon emissions are also fully hedged, providing important cost certainty.

“We are satisfied with our progress for FY26 to date, although we remain mindful of the late booking profile which limits forward visibility and the evolving geo-political and economic landscapes. 

“With the peak summer months of July, August and September not yet complete, plus the majority of winter 2025-26 seat capacity of 5.8 million still to sell, it remains premature, as is always the case at this time of year, to provide definitive guidance as to group profitability for the financial year ending 31 March 2026.”

A further update on peak summer trading will be provided at the group’s annual meeting on September 4.

• Commenting on Jet2’s final results, Julie Palmer, partner at restructuring group Begbies Traynor, said: "Jet2 continues to soar from strength to strength, with record passenger numbers, revenues and profit growth demonstrating the appeal of its budget offering in a highly competitive market. 

“Disciplined capacity management and a loyal customer base remain key strengths, helping the business stay ahead despite lingering cost pressures and wider macroeconomic uncertainty.

"That said, the continued trend towards later bookings, combined with ongoing geopolitical risks and a fragile economic backdrop, could weigh on consumer sentiment over the crucial summer months. With that in mind and the bulk of peak season trading still to come, there’s little room for complacency. 

"Jet2’s strong balance sheet, successful hedging strategy and focus on long-term growth leave it well positioned heading into the new financial year, while the increased dividend offers us a clear sign of management’s medium-term confidence. 

"Despite this, it is all to play for over the summer and the travel group must ensure it can adapt to evolving consumer behaviour if it’s going to continue to thrive."