Jet2 has reported record passenger numbers and revenue for its latest financial year, although profits fell as the airline invested heavily in expanding its operations, including the launch of its new base at London Gatwick Airport.

The British leisure airline said revenue reached €8.78 billion during the financial year from April 2025 to March 2026, a 4% increase compared with the previous year. Passenger numbers also hit a new high, rising 15% to 7.64 million.

Despite the strong growth, pre-tax profits fell by 7% to €646 million. The company attributed the decline mainly to the cost of opening its new base at London Gatwick Airport, which required an investment of around €13 million.

It also cited higher employment costs and the growing expense of switching to Sustainable Aviation Fuel (SAF), which can cost between two and seven times more than conventional jet fuel.

Strong outlook for summer

Jet2 remains optimistic about the peak summer season, with demand continuing to grow.

The airline has increased its seat capacity by 7.7% compared with summer 2025, while customer bookings are already 7.1% higher. The company said its competitive pricing has helped drive demand, although it noted that its financial outlook was prepared before the latest escalation in the Middle East, meaning geopolitical developments could still affect travel trends.

Jet2 currently operates from 14 UK airport bases, including Belfast International, Birmingham, Bournemouth, Bristol, East Midlands, Edinburgh, Glasgow, Leeds Bradford, Liverpool John Lennon, London Gatwick, London Luton, London Stansted, Manchester and Newcastle.

The airline has enjoyed sustained expansion over the past decade, achieving an average annual revenue growth rate of 19%. During that period, around 130 million passengers have travelled with Jet2, underlining its position as one of the UK's leading leisure airlines serving popular holiday destinations such as the Canary Islands.