LONDON (ShareCast) - (Sharecast News) - Jet2 shares slid on Tuesday morning, despite the company reporting record annual profits, revenues and passenger numbers for the year ended 31 March.
The AIM-traded low-cost leisure airline posted a 12% rise in pre-tax profit to £593.2m on revenue of £7.17bn, up 15%, but the stock weakened as investors digested guidance suggesting continued late booking patterns and an emphasis on price sensitivity.

Passenger numbers rose 12% to 19.77 million, with flight-only customers up 18% and package holiday travellers - Jet2's higher-margin segment - growing 8% to 6.58m.

Operating profit edged up 4% to £446.5m, while profit before currency revaluation and tax increased 11% to £577.7m.

"These results reaffirm the enduring appeal, resilience and differentiation of our product offering founded on end-to-end customer care, all of which help to create cherished holiday memories for our customers," said chief executive Steve Heapy.

He added that the company remains focused on its long-term goal "to be the UK's leading and best leisure travel business".

Jet2 said it was currently trading in line with market expectations.

However, it noted that bookings for summer 2025 continued to come in closer to departure, with demand strong "provided pricing is attractive".

The group expanded its footprint with new bases at Bournemouth and Luton, now serving 85% of the UK population within a 90-minute drive of its 13 airports.

It declared a final dividend of 12.1p, up 13%, bringing the full-year payout to 16.5p.

A previously announced share buyback programme of up to £250m was more than one-third complete.

Jet2 said it ended the year with total cash of £3.16bn and reduced its debt by 22%, lifting net cash by 17% to £2.02bn.

Basic earnings per share rose 15% to 213.1p.

At 0925 BST, shares in Jet2 were down 5.9% at 1,717.25p.

Reporting by Josh White for Sharecast.com.

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