Jet2 (formerly Dart Group) is a British holding company best known for operating budget airliner Jet2.com, ones of the largest airlines in the UK in terms of passengers carried. It first began operating commercial aircraft under the name Channel Express in 1983. It's headquartered in Leeds Bradford Airport.
Jet2’s first flight was from Leeds to Amsterdam on 12 February 2003. In the first year of operation, it carried 360,000 passengers. As of 2022, it operates from 10 airports across the UK to over 65 destinations, with a fleet including 34 Boeing 737-800NG and 60 Airbus A321neo planes.
What does the company offer?
Jet2 offers low-cost scheduled and charter flights from various locations in the UK, as well as all-inclusive and package holidays, accommodation, transfers and insurance services. Its subsidiary company, Jet2holidays, is the second-largest tour operator in the UK in terms of licensed passengers, granting around 3.75 million customers access to package city breaks and ski holidays, according to Statista.
Alongside Jet2holidays, the company owns the Indulgent Escapes brand, a luxury travel package holiday service offering 5-star hotels, private transfers and in-flight luxury options. It also runs Vibe, a mindset-focused package holiday offering for millennials, with hotels across 50 resorts featuring upmarket beach clubs, including Ibiza, Majorca, Tenerife, Split, Corfu and many more.
Before the global Covid-19 pandemic hit in 2020, the company reached an all-time high number of passengers carried at 14.39 million, on over 82,931 flights. It has one of the highest numbers of filled seats per flight within the industry. In 2017, it reported its planes to be at 93.2% capacity.
Between 2019 and 2020, Jet2 served over 14.6 million customers and reported 99 million seats sold in its lifetime, with an impressive 87.5% of its flights running on time, according to Travel Agent Central. As of 2022, it employs over 12,500 members of staff.
Jet2 share price history
Jet2 stock is listed on the London Stock Exchange under the ticker JET2.
From 1996, the Jet2 share price struggled to break over 100p per share, but it finally achieved this feat in February 2006. The financial crisis severely impacted the company, dropping shares to a low of 14.50p in July 2008. Despite stabilising, the price failed to pass the 100p mark again for nearly four years, with its breakout in November 2012.
Jet2 shares hit an all-time high in February 2020 at a price of 1,898p. The onset of the global pandemic and the effects of travel restrictions brought this price tumbling down to 569.50p by the very next month.
Jet2’s market capitalisation has had two impressive rallies, the first in 2019 when it climbed from $1.36bn to $3.66bn within only six months, after the collapse of one of its main rivals, Thomas Cook. This, however, was short lived, as on 31 March 2020, the announcement of the Covid-19 pandemic (and the impact it had on the aviation industry as a whole), caused the company’s market cap to plummet back down to $1.02bn, a level it had not seen since September 2017. The company’s all-time high market cap was valued at $4.47bn in April 2021.