Leeds-based Jet2 on Wednesday published a trading update, saying FY26 profit is in line with expectations and that operationally the firm is “well-set ahead of Gatwick launch.”
Based on company compiled consensus, Jet2 believes the current average market expectations for operating profit (EBIT) for the year ending March 31, 2026, to be £439 million.
For year ending March 31, 2026 (FY26), Jet2 said: “During the period, we continued to deliver on our growth strategy. Preparations for our London Gatwick launch have progressed well and we look forward to 26 March 2026 when our first flights will depart.
“Following the launch, over 90% of the UK population will live within a 90-minute drive of one of our 14 UK bases, bringing our ATOL-protected holidays and award-winning flights within easy reach of even more UK households.
“Since our last update in November, Winter 2025/26 on sale seat capacity has remained at 5.5m seats, which is 7.4% higher than Winter 2024/25. Average pricing for both our leisure travel products has followed a similar trend to Summer 2025, with marketing spend being reinvested into pricing to continue to deliver value to our Customers.
“Consequently, we currently expect to report Operating profit in line with current market expectations. This includes approximately £10m of promotional and resourcing start up costs ahead of our London Gatwick base launch.”
For year ending March 31, 2027 (FY27), Jet2 said: “Capacity growth has been concentrated into our new and recently established bases (Bournemouth, London Luton and London Gatwick), adding 1.1m seats, alongside measured growth at our more established bases of 2.0% (0.4m seats).
“As a result, our on-sale capacity for Summer 2026 is 8.0% higher than Summer 2025, at 20.0m seats, against total UK market growth to short / mid-haul beach destinations currently estimated at approximately 5.5%.
“To ensure more holidaymakers can experience Jet2‘s outstanding end-to-end customer service, we are investing in load factor and remain committed to pricing that is attractive and represents real value to our Customers.
“These actions will ensure that Jet2 has the right foundations to thrive in an increasingly competitive market. Our booked to date passengers are up by 7.9% which includes positive growth at our established bases and over 0.26m passengers at London Gatwick, with healthy demand for both our leisure travel products. The package holidays mix of total bookings is broadly in line with last year.
“In line with our Airbus delivery profile, this summer our A321neo fleet increases to 31, supporting a total peak flying programme of 139 aircraft. We remain pleased that the A321neo continues to demonstrate its strategic value in terms of lower unit costs averaging £10 per seat, reduced emissions and an enhanced customer experience.
“Alongside the operational benefits of the A321neo, we will also benefit from favourable fuel prices with over 75% of our FY27 requirement already hedged, which together partially offset hotel accommodation inflation and increased Sustainable Aviation Fuel and carbon costs.
“The Group will provide a further update in April 2026 and will announce its Preliminary Results for the year ending 31 March 2026 on 8 July 2026, which will include a fuller outlook for the all-important Summer 2026 trading period.”
Jet2 CEO Steve Heapy said: “We are very pleased with how the 2026 financial year is concluding, and are excited about the commencement of operations at London Gatwick. For Summer 2026, we are satisfied with our bookings to date and remain committed to pricing that is attractive and represents real value to our Customers.”