Leeds-based Jet2 plc said its revenue increased 24% to £6.255 billion in the year ended March 31, 2024, with profit before taxation soaring 43% to £529.5 million.
Jet2 will pay a final dividend of 10.7p per share, an increase of 34%.
Jet2 shares rose as much as 6% to around £13.61 to give the firm a current stock market value of almost £3 billion.
“Further progress made against our growth strategy as the group delivered record passenger numbers, revenues and profitability and further strengthened its balance sheet …” said the company.
“Total flown passengers grew 9% to 17.72m (2023: 16.22m); higher margin per passenger package holiday customers rose 15% to 6.08m (2023: 5.29m), representing 68.3% of total flown passengers (2023: 64.9%) …
“Year-end total cash increased 21% to £3,184.7m (2023: £2,624.7m). ‘Own Cash’ (excluding advance customer deposits), was £1,331.4m (2023: £1,127.1m), providing financial resilience and flexibility …
“Underlining our future confidence, the group exercised its remaining Airbus order purchase rights and now has a delivery stream of 146 firm ordered A321neo aircraft delivering through to 2035 …
“Our new Liverpool airport base is proving successful and operations from our 12th UK base at Bournemouth Airport will commence from February 2025 …
“Passengers are currently booking much closer to departure and therefore, pricing for our flight-only and package holiday products must remain attractive.
“Summer 2024 pricing to date for both products is showing a modest increase, helping to offset in part previously announced input cost increases …”