UK leisure carrier Jet2 has converted options on 12 more Airbus A320neo-family jets to take its firm orders for the type to 110.

The airline has disclosed it had converted the options during the first half of its financial year, a period for which it boosted operating profits almost a fifth.


Source: Jet2

Jet2 put its first A321neo into service on 10 May

Jet2 already had firm orders for 98 A320neo-family jets and options on another 48 after a series of orders since opting for CFM International Leap-powered Airbus narrowbodies for its fleet renewal in 2021. 

”To date, we have taken delivery of the first five aircraft, with a further six due to arrive next calendar year,” Jet2 says. ”Critically this long-term agreement with Airbus ensures certainty of aircraft supply well into the next decade.”

Jet2 recorded further revenue and profit growth for the first half of its financial year. Group operating profits rose 19% to £617 million ($772 million) for the six months ending 30 September 2023, while net profit climbed 39% to £496 million.

The airline flew almost 12 million passengers over the six months ending 30 September 2023, an increase on the 11.2 million it carried in the same period last year. That was set against a 7% increase in capacity and load factors staying unchanged at 90.7%.

That growth, together with increased yields – flight-only ticket yield per passenger rose 18% during the period – helped Jet2 report a 24% rise in revenues to £4.4 billion.

The strong performance was achieved even with holiday disruption challenges this summer caused by the wildfires in Rhodes, flooding in Skiathos and the air traffic control failure that hit UK flights in August.

Jet2 chief executive Steve Heapy says: “We are pleased to have delivered another strong financial performance during the first half of the financial year, despite the well-publicised external challenges faced. This clearly demonstrates that our end-to-end package holiday is a popular and resilient product and is the right product for price conscious customers.” 

The airline has retained its full-year guidance of delivering a group profit before currency and tax effects in the range of £480-520 million.

”As is typical for the group, losses are to be expected in the second half of the financial year,” it says. ”Although bookings have been a little slower in recent weeks with average load factors currently 1.3 points down on winter 2022-23 at the same point, average pricing to date remains robust.

”With over 40% of winter bookings traditionally made during the January to March period, we currently remain on track to deliver group profit… in line with our previous guidance. This remains dependent on no material extraneous events in the balance of the financial year.”