Jet2 said its full year results ending March 31, 2025, are in line with its expectations in a trading update on April 29, 2025. The company expects to report a profit before foreign exchange and tax of between £565 million and £570 million. The result excludes £10 million of profit from its retired 757-200 aircraft fleet. The result will mark an approximate increase of 9% on the same period a year prior.
The company added that its balance sheet position remains strong, noting the early repayment of its £387.4 million convertible bond during the year. As of the end of March, total cash was £3.2bn and an ‘own cash’ balance of £1.1bn. During the year, the company purchased four A321neo aircraft using its own cash reserves.
“We are very pleased with how the 2025 financial year has ended with another year of healthy profit growth, which underlines the resilience, flexibility and popularity of our product offering,” said Jet2 CEO Steve Heapy.
On the back of its positive results and strong balance sheet, the company said it intends to launch a share buyback programme of up to £250 million.
“Although still very early in FY26, we are satisfied with progress for the summer 2025 so far,” continued Heapy. “With a steadfast focus on long-term growth together with our flexible business model, we are well-positioned to navigate the dynamic market conditions and continue delivering exceptional service-led holiday experiences to our customers.”
The company said it had the “required number of aircraft” and “sufficient” staff to support the summer period. The company says it has hedged over 95% for fuel and foreign exchange for the period, as well as over 80% for the full financial year and 100% hedged for carbon emissions.
Jet2 added that it remained “mindful” of the potential impact of the ongoing current geopolitical and macro-economic environments.
The company will publish is preliminary results for the year ending March 31, 2025, on July 9, which will include a more detailed outlook for the summer 2025 period.