REG - Jet2 PLC - Annual General Meeting Statement

Jet2Announcement

04/09/2025 07:00

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RNS Number : 9029X  Jet2 PLC  04 September 2025

 

4 September 2025

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

Annual General Meeting Statement

Summer 2025 on sale seat capacity at 18.5m seats is 8.0% higher than Summer
2024 and consistent with our last update on 9 July.

However, since then the closer to departure booking trend has become more
pronounced. To the end of August flown package holiday customers grew by 2%,
with flight-only passengers rising by 17%, demonstrating the flexibility of
our operating model and supporting our growth and market expansion. Average
package holiday pricing continues to display a modest increase, whilst net
ticket yields for our flight-only product have become increasingly attractive,
in part supported by the reallocation of marketing monies into price to
improve conversion, alongside balanced cost control.

Looking ahead to Winter 25/26, we have chosen to exercise capacity discipline
in a less certain consumer environment, reducing seats on sale from 5.8m to
5.6m, an increase of 9% on Winter 24/25, and we plan to maintain attractive
pricing to ensure our Customers are able to get away from it all and enjoy a
relaxing holiday.

With limited visibility given the later booking profile and the remainder of
summer and much of winter seat capacity still to sell, we currently expect
EBIT(1) to be towards the lower end of the consensus range(2), although it
remains premature to provide definitive guidance as to overall Group
profitability for the financial year ending 31 March 2026.

We will provide a further update at our interim results on 19 November 2025.

For the longer term our strategy remains unchanged - To be the UK's Leading
and Best Leisure Travel Business - underpinned by our firm delivery stream of
146 Airbus A321neo through to 2035 which enables us to confidently plan for
the future and with 'People, Service, Profits' serving as our guiding
principles.

Steve Heapy, Jet2 plc Chief Executive Officer commented: Although we are
currently operating in a difficult market, we have a proven business model, a
loyal customer base, a flexible approach to capacity management and of course
our multi award-winning customer service. We believe that these factors
provide the foundation for a solid financial result this year and for further
profitable growth in the years to come.

Continuing our Board evolution, we are delighted to announce the appointment
of Rachel Kentleton as Senior Independent Non-Executive Director with effect
from 4 September 2025. Rachel was appointed as an Independent Non-Executive
Director in March 2024 and has been the Chair of our Audit & Risk
Committee since July 2024.

(1) EBIT - Earnings before interest and taxation

(2) EBIT Consensus range for year ending 31 March 2026 is £449m - £496m
(2025 Actual: £446.5m)

 

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:

 Jet2 plc                                                 Tel:          0113 239 7692

 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

 Katy Birkin / 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
 Burson Buchanan - Financial PR                           Tel:          020 7466 5000

 Richard Oldworth / Toto Berger

 

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 2025, over 66%
of flown passengers took an end-to-end package holiday with the remainder
taking a 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.

 

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