Jet2 Posts Record Results Despite Price Sensitivity, Later Bookings

UK leisure carrier and tour operator Jet2 has posted record annual results despite increasing consumer price sensitivity and a shift toward later bookings.

The company says customers remained eager to travel but are increasingly booking closer to departure and remain highly price-conscious, especially for flight-only services. “Despite pressures on household budgets, consumers continue to prioritize their hard-earned holidays over other areas of discretionary spend,” CEO Steve Heapy said.

For the year ended March 31, Jet2 reported a profit before tax and foreign exchange revaluation of £577.7 million ($785.6 million), up 11% year-over-year. Revenue climbed 15% to £7.17 billion on a 12% increase in flown passengers, which reached 19.77 million.

Flight-only traffic surged 18% to 6.62 million, while package holiday customers rose 8% to 6.58 million. Seat capacity grew 13%, supported by the addition of new bases at Bournemouth and London Luton. However, yields on flight-only tickets declined 2%, reflecting “a slightly more promotional environment,” CFO Gary Brown told investors.

“It’s been a late booking market for about a year now,” Heapy added. “We are doing what we can to try and promote early bookings ... we know more about our customers than ever before, and we can interact with them in a way that will entice them to book early. At some stage, the market will change, and it will become earlier, but we’re in a cyclical industry.”

Jet2’s seat capacity for summer 2025 is set to rise 8% year-over-year to 18.5 million seats, while its winter 2025-26 program includes 5.8 million seats. The company operates a fleet of 135 aircraft, up from 127 a year earlier, which includes nine wet-leased aircraft.

However, the company expects to scale back its reliance on short-term leased capacity during summer 2026 as deliveries of Airbus A321neo aircraft ramp up. Jet2 has committed to 155 A321neos—146 purchased and nine leased—for delivery through to 2035.
“We’re committed to growing and replenishing our fleet, and this will support our growth agenda over the coming years,” Heapy said.

Jet2 retired its final Boeing 757-200s in January 2025, with Heapy describing it as a “sad day” but a necessary step toward modernization. As the A321neo becomes the backbone of its fleet, Jet2 expects the average seat gauge to increase from 197 in summer 2025 to 221 by summer 2031.