UK leisure carrier Jet2 is trading in line with guidance for the peak summer period amid a continued trend for late bookings among its customers.
Outlining the business’s fiscal full year results on 9 July during an analyst briefing, Jet2 chief executive Steve Heapy said he was “very happy” with earnings and believes that operator has “the right strategy” to continue on a growth path.
Still, he notes that customers for Jet2’s package holiday and flight-only products are “taking a little big longer to decide” regarding their holiday plans this year.
“The market’s a cyclical market and it’s been a late booking market for about a year now,” he states. “We are doing what we can to promote early bookings and at some stage the market will change and become earlier.
“There’s a lot of choice out there,” he says.
But even if cost-of-living considerations are among the factors weighing on consumer spending decisions, Heapy is encouraged that people continue to prioritise holiday spending over other discretionary items – and he believes earlier bookings will return at some point.
As Jet2 continues on the growth path, Heapy says Airbus A321neo deliveries are “pretty much in line with where we expect”.
Jet2’s revenue for the year ending 31 March 2025 was up 15% at £7.2 billion ($9.8 billion), while its operating profit was 4% higher at £447 million. Its net profit was also £447 million, up 12%.
It flew 19.8 million passengers during the fiscal year, which was up 12%.