Jet2 plc (JET2) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and thank you for joining us. I'm Steve Heapy, Chief Executive Officer of Jet2 plc and I'm pleased to be taking you through our performance for the year-ended 31st of March 2026, together with the growth strategy that gives us confidence for the years ahead. I'm joined today by Gary Brown, our Chief Financial Officer, who will obviously talk you through the numbers. But before that, I will start with the key highlights and the strategic context. Gary will then take you through the financial results in more detail and I'll return to cover our growth plans, current trading and outlook before we open the line for questions. In simple terms, this has been another strong year for Jet2. We have grown passenger numbers, delivered record revenue, maintained a robust operating performance despite clear cost headwinds and continued to return meaningful capital to shareholders. Let me begin with the headline performance. We delivered another year of record passenger numbers and record revenue. Operating profit remained resilient, even after absorbing Gatwick startup investment costs and wider industry cost pressures, including incremental SAF premiums and increases in employment tax. The balance sheet remains a real pillar of strength for the business. We ended the year March 2026 with over 2 billion of net cash, giving us the flexibility to invest for growth, protect the customer proposition and deliver attractive shareholder value. During the year we flew over 20 million passengers, that's 5% more than last year with most of that growth delivered by our newer bases at London Luton and Bournemouth. We also returned £363 million to shareholders through share buybacks and dividends more than ever before and today We have launched a further £250 million shar...