Total agent commission paid out by the airline and operator during the year to 31 March 2025 increased by 11% from £166.9 million to £184.5 million, fuelled by a 5% increase in the average cost of a Jet2 package holiday to £873 and "higher independent travel agent booking volumes".
In a full-year trading update issued on Wednesday (9 July), Jet2 revealed "higher margin" package holiday customers increased by 8% year-on-year from 6.08 million to 6.58 million. Jet2’s repeat booking rate for package customers currently stands at 61%.
However, package holiday customers as a percentage of total passengers flown by Jet2, which came in narrowly short of 20 million, fell by 1.8 percentage points from 68.3% to 66.5%. Flight-only passengers, meanwhile, increased by 18% from 5.61 million to 6.62 million during the same 12-month period, albeit at 2% lower per passenger ticket yield of £118.81.
Total Jet2 passengers numbers increased by 12% year-on-year from 17.72 million to 19.77 million, contributing to a 15% uptick in revenue from £6.26 billion to £7.17 billion and driving a profit of £577.7 million before tax and FX revaluation. This represents an 11% increase from last year’s £520.1 million.
All three figures – passenger numbers, revenue and profitability – are new records for the airline and operator, although load factor fell by 1.1 percentage points from 89.8% to 88.7% as passenger growth tracked slightly behind an increase in seat capacity to 22.29 million – 13% more than the 19.73 million Jet2 flew a year earlier.
Nonetheless, Jet2.com and Jet2holidays chief executive Steve Heapy said: "These results not only underline the enduring appeal, resilience and differentiation of our product offering, but also demonstrate that, despite pressures on household budgets, consumers continue to prioritise their hard-earned holidays over other areas of discretionary spend."
During the 2024/25 reporting period, Jet2 launched its 11th and 12th UK bases – Liverpool in March 2024 and Bournemouth in February 2025 – while its 13th, at Luton airport, opened on 1 April this year. Jet2 claims 85% of the UK population now live within a 90-minute drive of one of its 13 bases.
It added a further seven new Airbus A321neo aircraft to its fleet during the year to 31 March 2025, and expects to operate 135 aircraft this summer, up from 126 last summer. It has a further 132 aircraft on order through 2035 to expand and renew its fleet, 10 of which it expects to take delivery of over the coming year.
Jet2 awarded staff a 5.5% pay increase during its 2024/25 full-year, and has committed to a 3% increase for its 2025/26 full-year to the end of March 2026.
’Evolving landscapes’
On sale seat capacity for summer 2025 stands at 18.5 million, an increase of 8% on summer 2024; Heapy acknowledged the ongoing late booking trend, and stressed pricing would have to remain "attractive" to unlock people’s "eagerness" to get away on holiday.
Heapy said Jet2 was trading "in line with market expectation" and was 90% hedged for its 2025/26 full-year, and fully hedged in terms of the cost of its carbon emissions.
"We are satisfied with our progress for FY26 to date, although we remain mindful of the late booking profile which limits forward visibility and the evolving geo-political and economic landscapes," said Heapy, who added this outlook came with "the majority" of winter 2025/26 seat capacity (5.8 million) still to sell.
