The UK leisure travel sector has found a resilient leader in Jet2.com Limited.
This Leeds-based carrier delivered record financial results for the first half of fiscal year 2026. With operating profit reaching £715.2 million and passenger numbers climbing 6% to 14.09 million despite challenging market conditions, Jet2’s performance demonstrates the strength of its integrated business model.
The carrier’s announcement of its 14th UK base at London Gatwick Airport signals a calculated move to tap into an addressable market of 15 million potential customers in southern England, an area where Jet2 has historically been underrepresented.
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Financial Performance: Resilience in a Late-Booking Market
Jet2’s first-half fiscal 2026 results reveal a company adapting successfully to changing consumer behavior. Group revenue grew 5% to £5,342.2 million, while operating profit increased 2% to £715.2 million. Perhaps most significantly, basic earnings per share jumped 8% to 300.4p, and diluted EPS surged 17% to 292.2p following the elimination of convertible bond dilution.
The company maintained strong financial resilience with total cash and money market deposits of £3,354.4 million. This robust balance sheet enabled Jet2 to announce a £100 million share buyback program in addition to a 2.3% increase in its interim dividend to 4.5p per share.
Financial Metric | H1 FY2026 | H1 FY2025 | Change |
|---|---|---|---|
Revenue | £5,342.2m | £5,085.4m | +5% |
Operating Profit | £715.2m | £701.5m | +2% |
Passengers Flown | 14.09m | 13.34m | +6% |
Basic EPS | 300.4p | 279.3p | +8% |
Cash Reserves | £3,354.4m | £3,596.4m | (7%) |
What makes these results particularly impressive is the market context. The industry experienced a pronounced shift toward late bookings during summer 2025. Flight-only passengers surged 16% to 4.77 million, while package holiday customers grew a more modest 1% to 4.73 million. The average package holiday price increased 3% to £933, demonstrating pricing resilience even as consumers delayed booking decisions.