Jet2 Reports Record Year for Profits, Revenue, and Growth
Jet2 has reported a record-breaking year for 2024/25, achieving new highs in passenger numbers, revenue, and profitability. In its preliminary financial results released on July 9, 2025, the UK-based airline and holiday group confirmed that it carried 19.77 million passengers, up 12% from the previous year. This growth was driven by an 8% rise in package holiday bookings and an 18% increase in flight-only deals. To meet the rising demand, Jet2 increased its seat capacity by 13% to 22.29 million, supported by the arrival of several new Airbus A321neo aircraft.
The company’s revenue climbed 15% year-on-year to £7.17 billion ($9.75 billion), while pre-tax profits reached £593.2 million ($806.7 million), a 12% increase that surpassed the forecast of £579 million. Operating profit rose to £446.5 million ($607.2 million), up 4%, and profit before currency revaluation and tax climbed 11% to £577.7 million ($785.6 million). These gains enabled Jet2 to reduce its total debt by 22% and end the year with a net cash balance of £2.02 billion ($2.74 billion). The company also reported a total cash reserve of £3.16 billion ($4.3 billion).
Jet2 has announced a 13% increase in its total dividend to 16.5p ($0.22) per share and completed 35% of its £250 million ($340 million) share buyback program. Basic earnings per share increased by 15% to 213.1p ($2.89), reflecting the airline’s strong financial performance.
The company expanded operations by opening new bases at Bournemouth and London-Luton airports, bringing its total number of UK airport bases to 13. Jet2 now serves 85% of the UK population within a 90-minute drive. Despite a shift in booking patterns with more customers reserving closer to departure, demand remains robust when pricing is competitive. The company said it is trading in line with market expectations for summer 2025.
Jet2 Chief Executive Steve Heapy attributed the airline’s success to its customer-focused model. He stated, “These results reaffirm the enduring appeal, resilience and differentiation of our product offering, founded on end-to-end customer care. The strength of our proposition, delivered by colleagues who are dedicated to providing award-winning Customer First service, will enable us to fulfil our long-term strategy: To be the UK’s leading and best leisure travel business.”
Jet2 is currently the third-largest airline in the UK, behind British Airways and easyJet. Its fleet includes 129 aircraft, with ten wet-leased for the summer 2025 season. The active fleet consists of eight Airbus A321-200s, 16 A321neos, seven older Boeing 737-300s, and 98 Boeing 737-800s. The airline also has 134 Airbus A321neo aircraft on order to support its continued expansion. Jet2 currently flies 592 routes to 90 destinations across 24 countries, further strengthening its position in the UK’s competitive leisure travel market.
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