9th Jul 2025 09:27
(Alliance News) - Jet2 PLC on Wednesday reported a double-digit rise in annual profit and revenue, citing record passenger numbers and strong demand for both flight-only and package holidays.
It said it is trading in line with market expectations for its new financial year, though it did not set out a profit outlook amid a late booking profile that is "limiting forward visibility".
Shares in Jet2 were down 6.3% at 1,710.24 pence in London on Wednesday morning.
For the year ended March 31, the Leeds-based tour operator and airline said pretax profit rose 12% to GBP593.2 million from GBP529.5 million a year before, with revenue up 15% to GBP7.17 billion from GBP6.26 billion.
Jet2 carried 19.8 million passengers during the year, a 12% rise on 17.7 million in financial 2024. Higher-margin package holiday customers rose 8% to 6.6 million, while flight-only passengers climbed 18% to 6.6 million.
"Despite pressures on household budgets, consumers continue to prioritise their hard-earned holidays," Chief Executive Officer Steve Heapy said. "These results reaffirm the enduring appeal, resilience and differentiation of our product offering founded on end-to-end customer care."
Diluted earnings per share rose 22% to 207.2 pence from 170.4p.
Jet2 proposed a final dividend of 12.1 pence, up from 10.7p, bringing the total for the year to 16.5p per share, a 12% increase from 14.7p.
The company also noted that its GBP250 million share buyback, launched in April, is more than 35% complete.
Looking ahead, Jet2 expects to operate a fleet of 135 aircraft in summer 2025, up from 126 in summer 2024. Seat capacity for summer is 18.5 million, 8.0% higher than the previous year.
Jet2 said bookings continue to be made closer to departure, limiting forward visibility, but added that it remains satisfied with its progress so far in financial and continues to trade in line with the GBP579 million consensus for pretax profit before foreign exchange revaluation.
In the year just ended, pretax profit before foreign exchange revaluation rose 11% to GBP577.7 million from GBP520.1 million.
"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 2025/2026 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," Jet2 said.
The company will provide an update on summer trading at its annual general meeting in September.
By Eva Castanedo, Alliance News reporter
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