Jet2 PLC

Latest Results (20.02.2026):

Jet2 PLC — preliminary results for the year ended 31 March 2025 (FY2025, quarter ending 31 March 2025 / Q4 2025). The Group delivered record passenger numbers and higher revenue and profitability: revenue rose 15% to £7,173.5m and group profit before FX revaluation and taxation increased 11% to £577.7m, with profit before taxation up 12% to £593.2m and basic EPS up 15% to 213.1p. Total flown passengers grew 12% to 19.77m and management launched a £250m buyback while maintaining a strong net cash position.

Revenue & profit

Group revenue £7,173.5m (+15%); operating profit £446.5m (+4%); profit before FX revaluation & taxation £577.7m (+11%); profit before tax £593.2m (+12%).

Earnings & dividend

Profit after tax £446.8m (+12%). Basic EPS 213.1p (+15%); diluted EPS 207.2p (+22%) after elimination of convertible bond dilution. Final dividend 12.1p (total 16.5p, +12–13%), subject to shareholder approval.

Passengers & capacity

Seat capacity 22.29m (+13%); flown passengers 19.77m (+12%); load factor 88.7% (vs 89.8%). Package holiday customers 6.58m (+8%); flight-only passengers 6.62m (+18%).

Balance sheet & cash

Total cash and money market deposits £3,155.8m (year-end); 'Own Cash' £1,096.9m (down vs prior year). Total debt reduced 22%; net cash increased 17% to £2,017.9m.

Capital allocation & buyback

Board launched an on‑market share buyback programme up to £250m (first tranche £125m commenced 29 Apr 2025) — programme reported >35% complete; repurchased convertible bonds and bought 11.3m shares via EBT to avoid dilution.

Fleet, bases & investment

Fleet and network expansion: two new UK bases (Bournemouth, London Luton) bringing 13 bases; Airbus A321neo deliveries continuing (14 received in year, pipeline committed to 2035); retired six 757-200s.

Costs & margins

Operating expenses rose 15% in line with revenue; operating margin modestly down (operating profit margin 6.2% vs 6.8% prior year). Operating profit per sector seat fell to £20 (from £22) reflecting strategic investment and inflationary costs.

Trading outlook & hedging

Management states trading is in line with market expectations for FY26 (company consensus profit before FX revaluation & taxation ~£579m). Summer 2025 seat capacity +8% vs prior year; over 90% of fuel, FX and carbon hedged for the year.

Sustainability & operational metrics

Carbon intensity reduced to 65.7 gCO2/RPK (from 66.4); purchased >1,000 tonnes SAF in 2024 for selected airports; cancellation rate 0.05% across >116,000 flights; myJet2 subscribers >7.0m and strong NPS in the mid-60s.