Jet2 has reported that holidaymakers are increasingly booking their trips at the last minute since the onset of the Iran war, reflecting growing anxiety over the conflict's impact and concerns about jet fuel supply. The company noted that summer passenger bookings have risen by 6.2% so far, driven by growth in both its airline and package holiday operations. However, in a sign of mounting nervousness among travellers, Jet2 revealed that the "booking profile has become increasingly close to departure" due to the Middle East war.
Fuel Supply and Protection
The group stated that it is well shielded from the fuel cost spike caused by the Iran war for the crucial summer season, adding that it is "maintaining frequent dialogue with our fuel suppliers and airport partners on fuel supply." Jet2's load factor, a key metric measuring how full its planes are, has remained flat year-on-year for the first quarter so far, though the company acknowledged that the conflict has limited visibility for the peak summer season and beyond.
Impact on Aviation
This update follows a separate warning from Heathrow airport on Wednesday, which expects passenger numbers for the rest of the year to be affected by the Middle East situation. Airspace closures following the outbreak of the war on February 28 have significantly disrupted air travel. While much of the region's airspace has since reopened, many travellers are avoiding flights due to the conflict. Several European airlines have also recently alerted about potential jet fuel shortages within weeks, given the disruption to their main supply route through the Strait of Hormuz. Approximately three-quarters of Europe's jet fuel supply originates from the Middle East and travels through this crucial shipping channel.
Steve Heapy, Chief Executive of Jet2, commented: "Clearly, we continue to monitor the situation in the Middle East but remain focused on our medium-term goals." The group expects to report a drop in operating profits to between £435 million and £440 million for the past year ending March 31, down from £446.5 million in 2024-25, but noted that this aligns with market forecasts. Jet2 has increased its summer programme for 2026 by 7.7% to 19.9 million passenger seats.
