Jet2 launches £250m share buyback
Tour operator Jet2 is launching a £250m share buyback programme as it revealed sales of its summer 2025 holidays are up more than 8% on last year.
The Leeds-based group said it is well-positioned to ‘navigate the dynamic market conditions’ and the buyback reflects its cash generative business model, strong balance sheet and the opportunity to purchase its shares at ‘favourable’ levels.
Jet2 also said it expects profits before foreign exchange revaluation and taxation for the year to 31 March to come in between £565m and £570m, up around 9% on last year and in line with market expectations.
Notwithstanding the early repayment of the £387.4m convertible bond during the year, Jet2’s balance sheet position remains strong, with total cash at 31 March 2025 of £3.2bn and an ‘own cash’ balance (excluding customer advance deposits) of £1.1bn.
Jet2 said its sale capacity for summer 2025 is currently 8.3% higher than last year at 18.6m seats, with its new bases at Bournemouth and London Luton airports contributing around 4% of this growth.
The group added that with considerable way to go in the leisure travel booking cycle and given the limited forward visibility, it is too early to provide guidance on group profitability for FY26.
Steve Heapy, CEO, said “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.
“Although still very early in FY26, we are satisfied with progress for Summer 2025 so far. 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 group will announce its preliminary results for the year ended 31 March 2025 on 9 July, which will include a fuller outlook for the summer 2025 trading period.
