Jet2 plc
Interim Results for the half year ended 30 September 2025
Continued growth with record passenger numbers, profitability and EPS
Strategic expansion at London Gatwick airport
Full year expectations in line
New £100m share buyback
| Group financial highlights (unaudited) | HY26 | HY25 | % change |
| Revenue | £5,342.2m | £5,085.4m | 5% |
| Operating profit | £715.2m | £701.5m | 2% |
| Profit before FX revaluation and taxation | £780.0m | £772.4m | 1% |
| Profit before taxation | £800.3m | £791.4m | 1% |
| Profit for the period after taxation | £600.2m | £592.9m | 1% |
| Basic earnings per share | 300.4p | 279.3p | 8% |
| Interim dividend per share | 4.5p | 4.4p | 2% |
- Further progress made against our growth strategy as the Group delivered another record performance in terms of passenger numbers, revenue and profitability.
- More people choosing Jet2 – an increase of 750,000 passengers flown to 14.09m (2024: 13.34m); 40% growth from pre-pandemic passenger numbers (2019: 10.07m).
- Strong financial performance – amidst a fast-moving, late booking market, Group Revenue grew by 5% to £5,342.2m and Operating profit by 2% to £715.2m. Basic EPS increased 8% to 300.4p. Diluted EPS increased 17% to 292.2p.
- Financial resilience – total cash and money market deposits remained strong at £3,354.4m (2024: £3,596.4m), the decrease in part due to the £250m share buyback programme launched in April 2025.
- Investing for growth – performance at our two new operating bases at Bournemouth and London Luton is encouraging; 23 new Airbus A321neo aircraft operational over Summer 2025 (17% of total fleet mix); and our groundbreaking Retail Operations Centre is now fully automated.
- New base at London Gatwick airport for Summer 2026 – secured slots for six aircraft following the release of additional capacity by the airport. Our 14th UK base will be operational from late March 2026, bringing Jet2‘s differentiated, service-led offering to a further 15 million potential customers.
- Winter 2025/26 – on sale seat capacity is currently 7.7% higher than Winter 2024/25 at 5.5m seats with the late booking profile experienced during Summer 2025 continuing.
- Our expectations for full year unchanged – excluding start-up investment for London Gatwick, we are currently on track to deliver in line with market expectations‡.
- Returning capital to shareholders – interim dividend increased by 2.3% to 4.5p (2024: 4.4p). In addition, reflecting the Board’s continued confidence in the prospects for the business we are announcing a further share buyback of £100m.
Steve Heapy, Jet2 plc Chief Executive Officer, commented:
“We are very pleased to report another record financial performance for the first half of the year, illustrating how our flexible operating model can adapt to changing consumer behaviour.
Customers may be booking later, but it is clear they still want their well-earned holidays in the sun with a brand they can trust. Our differentiated, service-led, end-to-end product offering continues to set us apart, delivering seamless, great-value experiences that ensure customers come back time and time again.
As ever, in line with our People, Service, Profits philosophy, underpinning this proposition are our outstanding Colleagues. I would like to thank them for their dedication to delivering our Customer First service which plays such a vital role in our continued growth and supports our position as the UK’s No.1 tour operator and third largest airline.
As announced last week, we are thrilled to launch our award-winning Customer First service from London Gatwick next year – a once in a generation opportunity to further accelerate our growth from the UK’s largest beach and city leisure destination airport.
We believe the annual overseas holiday remains a cherished priority for many, often taking precedence over other discretionary spending even in uncertain economic times. We continue to build loyalty by offering customers an extensive product range, highly flexible holiday options and exceptional customer service giving them the freedom to tailor their travel plans to suit their individual needs. Our proven business model continues to deliver and this gives us confidence in our future growth prospects.
‡ Based on Company compiled consensus, the Board believes that, excluding start-up costs for London Gatwick, the current average market expectations for Operating Profit (EBIT) for the year ending 31 March 2026 to be £453m.