Jet2 PLC (AIM:JET2) reported record revenue and profitability for the past year and said bookings for this summer are being made later than usual, though demand "remains strong, provided pricing is attractive".
Revenue rose 15% year-on-year to £7.17 billion for the year to 31 March 2025, supported by a 12% rise in passenger volumes and continued demand for its scheduled flights and package holidays, where numbers were up 18% and 8% respectively.
Profit taxation increased 12% to £593.2 million, while profit before FX revaluation and taxation was up 11% to £577.7 million, both of which were well above the £565-570 million range it indicated in a year-end update.
The largest company on AIM added new operational bases at Bournemouth and London Luton airports, bringing 85% of the UK population within a 90-minute drive of its thirteen UK bases.
Total cash at the year-end stood at £3.2 billion, with net cash rising 17% to just over £2 billion. The £250 million share buyback programme announced in April is over 35% complete.
On top of that, the final dividend was increased 13% to 12.1p per share, bringing the total for the year to 16.5p.
Bookings for summer 2025 continue to be made closer to departure, Jet2 reiterated, as it had revealed previously, but overall demand remains strong.
The company said it is trading in line with market expectations and is fully hedged for fuel and foreign exchange for the season and over 90% for the full financial year, with carbon emissions also fully hedged.
"We are satisfied with our progress for FY26 to date, although we remain mindful of the late booking profile which limits forward visibility and the evolving geo-political and economic landscapes," said chief executive Steve Heapy.
"With the peak summer months of July, August and September not yet complete, plus the majority of Winter 2025/2026 seat capacity of 5.8m still to sell, it remains premature, as is always the case at this time of year, to provide definitive guidance as to group profitability for the financial year ending 31 March 2026."