Trading Update
29/04/2026 07:00
RNS Number : 2733C 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: 0113 238 7444 |
| Gary Brown, Group Chief Financial Officer | |
| Institutional investors and analysts: Mark Buxton, Finance & Investor Relations Director | Tel: 0113 848 0242 |
| Cavendish Capital Markets Limited - Nominated Adviser Matt Goode / George Lawson | Tel: 020 7220 0500 |
| Canaccord Genuity Limited - Joint Broker Adam James / Harry Rees | Tel: 020 7523 8000 |
| Jefferies International Limited - Joint Broker Ed Matthews / Jee Lee | Tel: 020 7029 8000 |
| Headland Consultancy - Financial PR Ed Young / Will Smith / Jack Gault | Tel: 020 3805 4827 |
Recent news on Jet2
See all newsIran war creates new must-have for summer holidays: the plan B
UK's Jet2 warns of slower summer bookings as Mideast conflict weighs on travel (updated)
UK's Jet2 falls after Iran war clouds outlook during peak summer season
UK Stocks-Factors to watch on April 29 (updated)
Brief: Jet2 Expects FY26 RESULTS IN LINE WITH MARKET EXPECTATIONS