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Investing.com -- Jet2 delivered another set of record interim results, with passenger numbers, revenue and profitability all hitting new highs despite a volatile, late-booking market.
In the first half of the fiscal year ended September 30, Jet2’s group revenue rose 5% to £5.34 billion.
Operating profit during the period edged up 2% to £715.2 million, and statutory profit after tax reached £600.2 million.
The company’s profit before taxation climbed 1% year-over-year to £800.3 million.
Basic earnings per share increased 8% to 300.4p, supported by the completion of a £250 million buyback and a newly announced £100 million share repurchase.
Jet2 said seat capacity rose 8% to 15.98 million and flown passengers increased 6% to 14.09 million, with load factors holding above 88%. Flight-only demand was a standout, rising 16% as consumers continued to book closer to departure, while package holiday customers increased 1% to 4.73 million.
The average package holiday price rose 3% to £933, although flight-only yields fell 7% as Jet2 used promotional pricing to protect loads.
Costs reflected higher activity levels and inflation, with operating expenses up 6% to £4.63 billion. Fuel costs were flat thanks to lower prices and efficiency gains from the growing A321neo fleet, while hotel accommodation costs rose 7% and staff costs increased 11% due to pay awards and regulatory changes.
Operating margins held steady at 13.4%.
“We are very pleased to report another record financial performance for the first half of the year, illustrating how our flexible operating model can adapt to changing consumer behaviour," said CEO Steve Heapy.
“Customers may be booking later, but it is clear they still want their well-earned holidays in the sun with a brand they can trust," he added.
The outlook remains steady. Winter seat capacity is 7.7% higher year on year, and pricing trends are similar to summer, with marketing spend redirected into pricing where needed.
Excluding start-up investment at London Gatwick, Jet2 said it is on track to meet current market expectations for the full year to March 2026.
This, combined with the opening of the new London Gatwick base in March 2026 and the planned fleet expansion for Summer 2026 and Summer 2028, gives the company confidence in its growth outlook for fiscal years 2026 and 2027.