Earnings release
Page 1
RNS Number : 2357UJet2 PLC25 February 2026 25 February 2026 Jet2 plc ("the Group" or "the Company") Trading Update FY26 profit in line with expectations and operationally well-set ahead of Gatwick launch Jet2, the UK's leading provider of package holidays and third largest airline, provides the following update on trading. Year ending 31 March 2026 (FY26) During the period, we continued to deliver on our growth strategy. Preparations for our London Gatwick launch have progressed well and we look forward to 26 March 2026 when our first flights will depart. Following thelaunch, over 90% of the UK population will live within a 90-minute drive of one of our 14 UK bases, bringing ourATOL-protected holidays and award-winning flights within easy reach of even more UK households. Since our last update in November, Winter 2025/26 on sale seat capacity has remained at 5.5m seats, which is7.4% higher than Winter 2024/25. Average pricing for both our leisure travel products has followed a similartrend to Summer 2025, with marketing spend being reinvested into pricing to continue to deliver value to our Customers. Consequently, we currently expect to report Operating profit in line with current market expectations*. Thisincludes approximately £10m of promotional and resourcing start up costs ahead of our London Gatwick base launch. Year ending 31 March 2027 (FY27) Capacity growth has been concentrated into our new and recently established bases (Bournemouth, LondonLuton and London Gatwick), adding 1.1m seats, alongside measured growth at our more established bases of 2.0% (0.4m seats). As a result, our on-sale capacity for Summer 2026 is 8.0% higher than Summer 2025, at 20.0mseats, against total UK market growth to short / mid-haul beach destinations currently estimated at approximately 5.5%‡. To ensure more holidaymakers can experience Jet2's outstanding end-to-end customer service, we are investing in load factor and remain committed to pricing that is attractive and represents real value to our Customers.These actions will ensure that Jet2 has the right foundations to thrive in an increasingly competitive market.Our booked to date passengers are up by 7.9% which includes positive growth at our established bases and over 0.26m passengers at London Gatwick, with healthy demand for both our leisure travel products. The packageholidays mix of total bookings is broadly in line with last year. In line with our Airbus delivery profile, this summer our A321neo fleet increases to 31, supporting a total peak flying programme of 139 aircraft. We remain pleased that the A321neo continues to demonstrate its strategicvalue in terms of lower unit costs averaging £10 per seat, reduced emissions and an enhanced customerexperience. Alongside the operational benefits of the A321neo, we will also benefit from favourable fuel prices with over75% of our FY27 requirement already hedged, which together partially offset hotel accommodation inflationand increased Sustainable Aviation Fuel and carbon costs. The Group will provide a further update in April 2026 and will announce its Preliminary Results for the yearending 31 March 2026 on 8 July 2026, which will include a fuller outlook for the all-important Summer 2026trading period. Steve Heapy, Chief Executive Officer, commented: "We are very pleased with how the 2026 financial year is concluding, and are excited about the commencementof operations at London Gatwick. For Summer 2026, we are satisfied with our bookings to date and remaincommitted to pricing that is attractive and represents real value to our Customers. Our brand is synonymous with customer service and we believe that our award-winning Customer First approachtruly differentiates us from our competitors. We remain committed to delivering holiday experiences that ourCustomers will both cherish and fondly remember, and will invest in our business to ensure we consistently meet their expectations." * Based on Company compiled consensus, the Board believes the current average market expectations for Operating profit(EBIT) for the year ending 31 March 2026 to be £439m.‡ Source: OAG For further information, please contact:
Page 2
Jet2 plcSteve Heapy, Chief Executive Officer Tel: 0113 238 7444 Gary Brown, Group Chief Financial OfficerInstitutional investors and analysts:Mark Buxton, Finance & Investor Relations Director Tel: 0113 848 0242 Cavendish Capital Markets Limited - NominatedAdviserMatt Goode / George Lawson Tel: 020 7220 0500 Canaccord Genuity Limited - Joint BrokerAdam James / Harry Rees Tel: 020 7523 8000 Jefferies International Limited - Joint Broker Ed Matthews / Jee Lee Tel: 020 7029 8000 Headland Consultancy - Financial PREd Young / Will Smith / Jack Gault Tel: 020 3805 4827 Notes to Editors Jet2 plc is a Leisure Travel Group, comprising Jet2holidays, the UK's leading provider of ATOL protectedpackage holidays to leisure destinations across the Mediterranean, Canary Islands and European Leisure Cities and Jet2.com, the UK's third largest airline by number of passengers flown, which specialises in scheduledholiday flights. In its most recent financial year ended 31 March 2025, over 66% of flown passengers took anend-to-end package holiday with the remainder taking a flight-only. During the same period over 80% of Group revenue related to package holidays with the majority of the balance flight-only. Jet2 currently operates from 13 UK airport bases at Belfast International, Birmingham, Bournemouth, Bristol,East Midlands, Edinburgh, Glasgow, Leeds Bradford, Liverpool John Lennon, London Luton, London Stansted, Manchester and Newcastle. A 14th UK base at London Gatwick airport will commence operations on 26 March2026. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authorityto act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this informationmay apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the informationcontained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. Forfurther information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END