REG - Jet2 PLC - Trading Update

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RNS Number : 2357U  Jet2 PLC  25 February 2026

25 February 2026

Jet2 plc ("the Group" or "the Company")

Trading Update

FY26 profit in line with expectations and operationally well-set ahead of
Gatwick launch

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

Year ending 31 March 2026 (FY26)

During the period, we continued to deliver on our growth strategy.
Preparations for our London Gatwick launch have progressed well and we look
forward to 26 March 2026 when our first flights will depart. Following the
launch, over 90% of the UK population will live within a 90-minute drive of
one of our 14 UK bases, bringing our ATOL-protected holidays and
award-winning flights within easy reach of even more UK households.

Since our last update in November, Winter 2025/26 on sale seat capacity has
remained at 5.5m seats, which is 7.4% higher than Winter 2024/25. Average
pricing for both our leisure travel products has followed a similar trend to
Summer 2025, with marketing spend being reinvested into pricing to continue to
deliver value to our Customers.

Consequently, we currently expect to report Operating profit in line with
current market expectations*. This includes approximately £10m of promotional
and resourcing start up costs ahead of our London Gatwick base launch.

Year ending 31 March 2027 (FY27)

Capacity growth has been concentrated into our new and recently established
bases (Bournemouth, London Luton and London Gatwick), adding 1.1m seats,
alongside measured growth at our more established bases of 2.0% (0.4m seats).
As a result, our on-sale capacity for Summer 2026 is 8.0% higher than Summer
2025, at 20.0m seats, against total UK market growth to short / mid-haul beach
destinations currently estimated at approximately 5.5%(‡).

To ensure more holidaymakers can experience Jet2's outstanding end-to-end
customer service, we are investing in load factor and remain committed to
pricing that is attractive and represents real value to our Customers. These
actions will ensure that Jet2 has the right foundations to thrive in an
increasingly competitive market. Our booked to date passengers are up by 7.9%
which includes positive growth at our established bases and over 0.26m
passengers at London Gatwick, with healthy demand for both our leisure travel
products. The package holidays mix of total bookings is broadly in line with
last year.

In line with our Airbus delivery profile, this summer our A321neo fleet
increases to 31, supporting a total peak flying programme of 139 aircraft. We
remain pleased that the A321neo continues to demonstrate its strategic value
in terms of lower unit costs averaging £10 per seat, reduced emissions and an
enhanced customer experience.

Alongside the operational benefits of the A321neo, we will also benefit from
favourable fuel prices with over 75% of our FY27 requirement already hedged,
which together partially offset hotel accommodation inflation and increased
Sustainable Aviation Fuel and carbon costs.

The Group will provide a further update in April 2026 and will announce
its Preliminary Results for the year ending 31 March 2026 on 8 July 2026,
which will include a fuller outlook for the all-important Summer 2026 trading
period.

Steve Heapy, Chief Executive Officer, commented:

"We are very pleased with how the 2026 financial year is concluding, and are
excited about the commencement of operations at London Gatwick. For Summer
2026, we are satisfied with our bookings to date and remain committed to
pricing that is attractive and represents real value to our Customers.

Our brand is synonymous with customer service and we believe that our
award-winning Customer First approach truly differentiates us from our
competitors. We remain committed to delivering holiday experiences that our
Customers will both cherish and fondly remember, and will invest in our
business to ensure we consistently meet their expectations."

* Based on Company compiled consensus, the Board believes the current average
market expectations for Operating profit (EBIT) for the year ending 31 March
2026 to be £439m.

(‡) Source: OAG

For further information, please contact:

 Jet2 plc                                                 Tel:          0113 238 7444

 Steve Heapy, Chief Executive Officer
 Gary Brown, Group Chief Financial Officer
 Institutional investors and analysts:                    Tel:          0113 848 0242

 Mark Buxton, Finance & Investor Relations Director
 Cavendish Capital Markets Limited - Nominated Adviser    Tel:          020 7220 0500

 Matt Goode / George Lawson
 Canaccord Genuity Limited - Joint Broker                 Tel:          020 7523 8000

 Adam James / Harry Rees
 Jefferies International Limited - Joint Broker           Tel:          020 7029 8000

 Ed Matthews / Jee Lee
 Headland Consultancy - Financial PR                      Tel:          020 3805 4827

 Ed Young / Will Smith / Jack Gault

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 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 13 UK airport bases at Belfast International,
Birmingham, Bournemouth, Bristol, East Midlands, Edinburgh, Glasgow, Leeds
Bradford, Liverpool John Lennon, London Luton, London Stansted, Manchester and
Newcastle. A 14(th) UK base at London Gatwick airport will commence operations
on 26 March 2026.

 

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