LEEDS: Jet2 plc, the UK-based leisure travel group, reported strong financial results for the year ended March 31, 2025, driven by increased passenger volumes, strategic expansion, and robust demand for holiday travel.
The company posted a 15% year-over-year increase in revenue to £7.17 billion, while profit before taxation rose 12% to £593.2 million. Operating profit edged up 4% to £446.5 million. Basic earnings per share climbed 15% to 213.1 pence, and the board declared a final dividend of 12.1 pence per share, up 13% from the prior year.
Passenger Growth and Strategic Expansion
Jet2 flew 19.77 million passengers during the year, a 12% increase from 2024. Higher-margin package holiday customers rose 8% to 6.58 million, while flight-only passengers surged 18% to 6.62 million. The company also expanded its UK footprint by launching new bases at Bournemouth and London Luton airports, bringing 85% of the UK population within a 90-minute drive of its 13 bases.
“These results reaffirm the enduring appeal, resilience and differentiation of our product offering founded on end-to-end customer care,” said CEO Steve Heapy. “The strength of our proposition, delivered by colleagues who are dedicated to providing award-winning Customer First service, will enable us to fulfil our long-term strategy: to be the UK’s leading and best leisure travel business.”
Strong Liquidity and Shareholder Returns
Jet2 ended the year with £3.16 billion in total cash, including £1.1 billion in “Own Cash” (excluding customer deposits). Net cash rose 17% to £2.02 billion, while total debt fell 22%. The company also launched a £250 million share buyback program in April, which is already over 35% complete.
Outlook for Summer 2025 and Beyond
Jet2 has increased its Summer 2025 seat capacity by 8% to 18.5 million seats. While bookings continue to be made closer to departure, the company noted strong demand for overseas holidays, provided pricing remains attractive. Jet2 is fully hedged for fuel, foreign exchange, and carbon emissions for the season, offering cost certainty amid geopolitical and economic uncertainties.
The company said it is trading in line with market expectations and remains cautiously optimistic about FY2026, though it refrained from issuing full-year profit guidance due to the late booking trend and evolving external conditions.