Jet2 flight-only bookings for the first half of the summer are up 19% year on year, while package holiday bookings are up 4%, the company has revealed.
Package holiday price increases for the early summer months have been ‘modest’, it said, while it described flight-only price rises as ‘slightly positive’.
In a trading update issued today, the airline and operator also confirmed that the trend towards later bookings is continuing.
It said that forward bookings for the first three months of the summer, to the end of June, are up 7% while it has 8.5% more seats to sell than last year, after adding two new bases – at London Luton and Bournemouth –, giving it a total of 18.6 million.
It described bookings for the new bases as ‘encouraging’, but admitted its load factor at Luton is ‘materially lower’ than that of existing bases, which it put down to the fact that it only went on sale last November.
“As always, we remain committed to investing for the long-term benefit of the business and our two new operating bases at Bournemouth and London Luton airports, in areas of the UK where Jet2 is currently underrepresented, illustrate that commitment,” it said.
“We believe these bases will add considerable value well into the future, but in the short-term, with the announcement of London Luton coming after the start of the summer on-sale process, combined they are expected to be modestly loss making in their first year of operation.”
Jet2 warned that the delayed arrival of new Airbus A321s has left it facing additional operating costs to cover aircraft gaps during the peak summer months, while the rise in the National Living Wage and Employer National Insurance contributions, combined with the mandated rise to 2% Sustainable Aviation Fuel, will cost it a further £45 million.
So far this winter, Jet2’s average load factor is down 2.2 percentage points over last year, with the late timing of Easter contributing to1.3ppts of the decline, it said, but the company still expects to report an 8% to 10% increase in pre-tax profit to between £560m and £570m for the year ending 31 March 2025.
CEO Steve Heapy said: “We are very pleased with how the 2025 financial year is ending and our expected 8% – 10% profit growth, and given the limited forward visibility we are satisfied with early bookings for summer 2025.
“We continue to believe that our Customers cherish their time away from our Rainy Island and want to be properly looked after throughout their holiday experience and we will continue to invest in our business to meet these expectations.
“However, we also recognise the current macro-economic conditions and the many demands placed on consumer discretionary incomes, which combined with the later booking profile and cost headwinds detailed, may mean profit margins in the year ahead come under some pressure.
“Nevertheless, our Customer First focus remains unwavering and as a much trusted holiday provider with an end-to-end customer care approach, we remain confident customers will continue to travel with us to the sun spots of the Mediterranean, the Canary Islands and to European Leisure Cities for many years to come.”
Jet2 will provide a further update in April 2025 and will announce its preliminary results for the year ending 31 March 2025 on 9 July 2025, which will include a fuller outlook for the summer 2025 trading period.
