Jet2, the airline and package holiday provider, has reported a surge in holiday bookings following US-Iran peace talks, with summer travel demand rising 7% year-on-year. The company posted a pre-tax profit of £551 million for the year to the end of March, down 7% from £593 million a year earlier, despite record passenger numbers.
Peace Talks Boost Booking Momentum
US President Donald Trump announced last month that he had signed a peace deal with Iran, reducing geopolitical tensions. Jet2 noted in its full-year financial results: “Reduced geopolitical uncertainty has led to strong booking momentum in recent weeks.” The average proportion of seats filled on flights for the four months to the end of July is 1.2 percentage points higher than the previous year.
Chief executive Steve Heapy explained that all destinations have benefited, but the strongest rebounds are in areas most affected by the conflict, such as Turkey, Cyprus, eastern Greek islands, Bulgaria, and parts of North Africa. He said: “I think confidence has improved. People perhaps don’t like to commit to travelling when there is a conflict, even though from one of our Turkish resorts to Tehran it was 2,000 kilometres, that’s like from Edinburgh to the Canary Islands, that’s a hell of a long way. But people don’t like to commit, particularly perhaps families with younger children. But we are seeing a bounce-back across all our destinations, and I think people are now realising ‘I feel a little more confident, we’re going to go on holiday and get away’.”
Record Passenger Numbers and Gatwick Expansion
Jet2 achieved record annual passenger numbers of 20.8 million, a 5% increase from the previous year. The company also reported that its performance at Gatwick Airport, where it launched flights and holidays in March, is “ahead of initial expectations.” Further expansion at Gatwick is planned for summer 2027.
Heapy added: “We speak to our customers a lot and try and understand their booking intentions. A massive amount of people still want to go away.” The booking boost underscores the impact of geopolitical stability on travel demand, with Jet2 positioned to capitalise on renewed consumer confidence.
