Jet2 (JET2) Trading Update summary

Trading performance and outlook

• FY26 operating profit expected to be in line with market expectations, including £10m in start-up costs for the Gatwick base launch.

• Winter 2025/26 seat capacity up 7.4% year-on-year, with pricing strategies focused on delivering value.

• Summer 2026 on-sale capacity is 8.0% higher than Summer 2025, outpacing the estimated UK market growth of 5.5%.

• Booked passengers for Summer 2026 are up 7.9%, with strong demand at both established and new bases.

Operational developments

• Preparations for the London Gatwick base are on track, with operations commencing 26 March 2026.

• Over 90% of the UK population will be within a 90-minute drive of one of 14 UK bases after Gatwick launch.

• The A321neo fleet will increase to 31 aircraft, supporting a peak flying programme of 139 aircraft.

• The A321neo delivers lower unit costs, reduced emissions, and improved customer experience.

Financial and strategic initiatives

• Over 75% of FY27 fuel requirements are hedged, helping offset hotel inflation and increased sustainability costs.

• Continued investment in load factor and attractive pricing to maintain competitiveness.

• Package holidays remain the core revenue driver, with a stable mix of bookings year-on-year.

• Further trading update expected in April 2026, with preliminary FY26 results to be announced on 8 July 2026.