Late bookings clouding Jet2 future performance visibility 

Jet2 says forward performance visibility is being limited by late bookings with a higher volume of flight-only passengers.

 

The outlook came in a new trading update in which the airline and tour operating group projected a 9% annual rise in pre-tax profits to between £565 million-£570 million in the 12 months to March 31. The forecast excludes £10 million of profit on disposal of assets primarily from its retired fleet of Boeing 757-200 aircraft. 

 

However, the group said it was too early to provide guidance on profitability for the current financial year.

 

“We are satisfied with our progress for FY26 to date although as ever, we remain mindful of the potential impact of the current geo-political and macro-economic environments,” the company said. 

 

“With a considerable way to go in the leisure travel booking cycle and given the limited forward visibility, it is too early to provide guidance as to group profitability for FY26.”

 

Capacity for this summer is 8.3% up on last year with 18.6 million seats, with new bases at Bournemouth and Luton airports contributing about 4% of the growth.

 

Jet2 said: “To date we are continuing to see a late booking profile which limits forward visibility. 

 

“However, our unique, flexible and fully integrated business model provides the group with the ability to balance average load factor, pricing and product mix, in order to maximise overall profitability. 

 

“Given the later bookings, currently our flight-only mix of passengers is a little higher than the prior year. 

 

“Pricing remains stable, with our package holiday product displaying a modest average increase and flight‐only a slight increase, helping to mitigate previously announced input cost increases. Bookings for our two new bases remain encouraging.

 

"Operationally we are well set for a successful summer 2025 season with the required number of aircraft to support our flying programme and sufficient, fully trained colleagues to operate our end-to-end product proposition to our normal high standards of customer care. 

 

“We are also over 95% hedged for fuel and foreign exchange for the season and over 80% for the full financial year and 100% hedged for carbon emissions, providing important cost certainty.”

 

The group is due to deliver results for the year ended March 31 on July 9, including a fuller outlook for the summer 2025 trading period.

 

Chief executive Steve Heapy said: "We are very pleased with how the 2025 financial year has ended with another year of healthy profit growth, which underlines the resilience, flexibility and popularity of our product offering, plus the consistently outstanding customer service provided by our colleagues. 

 

“Although still very early in FY26, we are satisfied with progress for summer 2025 so far. 

 

“With a steadfast focus on long-term growth together with our flexible business model, we are well-positioned to navigate the dynamic market conditions and continue delivering exceptional service-led holiday experiences to our customers. 

 

“We remain confident that as a much-trusted holiday provider with an end-to-end customer care approach underpinned by our principles of ’People, Service, Profits’, our customers will continue to travel with us from our rainy island to the sun spots of the Mediterranean, the Canary Islands and to European leisure cities."