Jet2 PLC (AIM:JET2) said it expects to report full-year profit for the year to March in line with market expectations, but said visibility for the coming summer season is unclear as later and later bookings have become the norm.
The package holiday and airline group said operating profit for the year to 31 March 2026 will be around £435-440 million, down from £446.5 million the previous year.
This includes £11 million of promotional and start-up costs linked to the launch of its London Gatwick base, which began operations in late March.
Total cash ended the year at £3.3 billion, with net cash of £2 billion and a £500 million undrawn revolving credit facility.
Looking ahead, capacity for summer 2026 is 7.7% higher at 19.9 million seats, with passenger bookings up 6.2% so far.
However, the AIM-listed company said booking patterns have shifted closer to departure since the start of the Middle East conflict, limiting visibility for the peak summer season.
So far, load factors for the first quarter are in line with last year.
Management have hedged 87% of summer fuel requirements at an average price of $707 per metric tonne, providing cost certainty.
Chief executive Steve Heapy hailed the past 12 months as "another strong year for Jet2" and highlighted the Gatwick launch as performing ahead of expectations.
"Clearly, we continue to monitor the situation in the Middle East but remain focused on our medium-term goals."