Jet2 plc (LSE:JET2) delivered preliminary results for the year ended 31 March 2026, reporting record passenger numbers and a 4% increase in revenue to £7.48bn. Operating profit remained resilient at £439.6m despite absorbing £61m in combined start-up expenses and wider industry cost pressures. The company also maintained a strong financial position, ending the year with £3.29bn in cash and deposits and net cash of around £2bn. In addition, it raised the final dividend by 2% and returned £363m to shareholders through dividends and share buybacks.
A major strategic milestone during the year was the group’s continued expansion in southern England through its new London Gatwick operation, complementing the recently launched London Luton base. The move is intended to strengthen Jet2’s market position and broaden its national footprint. Reflecting confidence in future growth, the board also approved a new £250m share buyback programme. Meanwhile, strong booking trends for summer 2026 and improved load factors point to sustained customer demand for the group’s package holiday and flight products.
Jet2’s latest performance highlights the resilience of its business model, supported by solid profitability, a strong balance sheet and continued investment in growth opportunities. The company’s expansion strategy, shareholder returns and attractive valuation relative to sector peers strengthen its investment case, although ongoing cost inflation and cash flow pressures remain factors for investors to monitor.
More about Jet2 plc
Jet2 plc is a UK leisure travel company operating both Jet2holidays, the UK’s largest provider of ATOL-protected package holidays to destinations across the Mediterranean, Canary Islands and European cities, and Jet2.com, the UK’s third-largest airline specialising in scheduled leisure flights. The group now operates from 14 UK airport bases, including its newest locations at London Luton and London Gatwick. Its integrated operating model sees more than 63% of passengers booking complete package holidays, supporting customer loyalty, operational efficiency and greater flexibility.
During the past decade, Jet2 has generated a compound annual revenue growth rate of 19%, carried more than 130 million passengers and achieved a 10-year return on capital employed of 15.7%. The company continues to focus on its Customer First strategy, maintaining customer satisfaction levels above 90%, net promoter scores in the mid-60s and customer retention of 59%. Guided by its People, Service, Profits philosophy, Jet2 has successfully evolved from a regional airline into a leading nationwide leisure travel brand.
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