Jet2 reported record revenue and passenger numbers for its financial year as the leisure travel group also unveiled a new £250m share buyback programme

The company's preliminary results for the year ended 31 March showed that revenue rose 4% to £7.48bn after flying the most people since the airline was launched in 2003.

The Leeds-based group carried a record 20.83 million passengers during the year, up 5%, with flight-only passengers increasing 15% to 7.64 million and package holiday customers edging up 1% to 6.62 million.

Operating profit slipped slightly to £439.6m from £446.5m after absorbing £11m of start-up costs for its new London Gatwick base and around £50m of higher employment taxes and sustainable aviation fuel (SAF) costs. Jet2 said its Gatwick expansion had performed ahead of expectations, with further growth planned for summer 2027.

CEO Steve Heapy said: "We took more customers on holiday than ever before, delivered record revenue and achieved a resilient operating profit performance even after absorbing Gatwick start-up investment and wider industry cost pressures."

Jet2 hares rose around 10-11% in morning trading, making it one of the strongest performers in the London market today.

The company ended the year with total cash of £3.29bn and net cash of £2.01bn. The board proposed a final dividend of 12.4 pence per share, up 2%, and announced the new share buyback, citing its strong balance sheet and confidence in the medium-term outlook.

Looking ahead, summer 2026 capacity is 7.7% higher than a year earlier, with booked passengers up 7.1%. The company said reduced geopolitical uncertainty had supported booking momentum in recent weeks and it remained confident in the resilience of customer demand.

"Jet2 is a business with strong fundamentals, an attractive and differentiated product proposition and a trusted brand... we remain firmly focused on delivering our long-term ambition: To be the UK's leading and best leisure travel business," Heapy added.

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