Jet2 plc Finalizes Initial Phase of Share Buyback, Acquiring 396,954 Ordinary Shares Between 13-17 July 2026

Five-Day Share Buyback Completed Across Multiple Trading Venues

Jet2 plc finalized the initial tranche of its share buyback programme by acquiring 396,954 ordinary shares over five trading days from 13 to 17 July 2026. Purchases were made through Jefferies International Limited, the company’s broker, across five market venues: AIM, TRQX, BATE, AQXE, and CHIX. This multi-venue execution aligns with standard market practice for large buybacks, ensuring fair pricing and minimizing market impact.

Daily purchase volumes were evenly spread: 73,380 shares on 13 July, 76,283 on 14 July, 82,431 on 15 July, 82,430 on 16 July, and 82,430 on 17 July. The majority were acquired on AIM (the primary listing venue), with the remainder distributed among secondary venues. Detailed pricing data per venue was disclosed, demonstrating transparency and regulatory compliance.

Share Price Trends and Volume-Weighted Average Prices During Buyback

Jet2’s purchase prices reflected typical market fluctuations over the buyback period. On 13 July 2026, prices ranged between 14.88p and 14.90p, with a VWAP of 14.8973p. The lowest prices occurred on 14 July, with a VWAP of 14.5123p and a low of 14.35p, indicating downward pressure that day.

Prices rebounded from 15 July, with VWAPs of 14.8378p on 15 July and 15.0898p on 16 July—the highest VWAP during the buyback. On 17 July, the final day, VWAP moderated to 14.8799p, with intraday prices ranging from 14.73p to 15.18p, reflecting increased volatility. The overall VWAP across all shares and venues was 14.8634p.

Distribution of Purchases Across Trading Platforms

The buyback was conducted across five Market Infrastructure Companies (MICs), reflecting the fragmented UK equity trading landscape. AIM accounted for approximately 49% of shares purchased (194,038 shares). Secondary venues TRQX, BATE, AQXE, and CHIX accounted for the remaining 202,916 shares. BATE was the second-largest venue with 125,134 shares, followed by TRQX (27,865), CHIX (30,009), and AQXE (14,958).

This diversified approach is typical for large institutional buybacks, ensuring best execution and minimizing market impact. Price differences between venues were minimal, with VWAPs varying by only 1–2 pence, indicating efficient pricing and no significant venue-specific premiums or discounts.

Reduction in Ordinary Share Capital and Post-Cancellation Share Count

Following the buyback, Jet2 will cancel all 396,954 repurchased ordinary shares of 1.25p each, reducing the total shares in issue to 190,518,516 with no shares held in treasury. Although the exact capital reduction amount was not disclosed, this decrease in issued shares reduces overall share capital.

This updated share count will be used for regulatory disclosure calculations under the FCA’s Disclosure Guidance and Transparency Rules, providing clarity for shareholders and investors regarding ownership thresholds and notification requirements.

Shareholder Approval and Timeline of Buyback Programme

The share buyback programme was authorized by shareholders at Jet2’s Annual General Meeting on 4 September 2025, meeting UK listing and company law requirements. The programme was publicly announced on 8 July 2026, with the first tranche executed swiftly between 13 and 17 July 2026, indicating pre-preparation for buyback mechanics.

This announcement details only the first tranche, implying further share repurchases are planned, though no specifics on timing or size of future tranches have been provided. Investors will monitor for updates on subsequent buyback activity.

Jet2 plc’s Integrated Leisure Travel Business Model and Operations

Jet2 plc operates two main divisions: Jet2holidays and Jet2.com. Jet2holidays is the UK’s leading ATOL-protected package holiday provider, serving destinations such as the Mediterranean, Canary Islands, and European cities. Jet2.com ranks as the UK’s third largest airline by passenger numbers, focusing on scheduled holiday flights that complement the package offerings. This integrated model enables Jet2 to serve customers across the full holiday value chain, from flight-only bookings to comprehensive packages including accommodation and ancillary services.

The company 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. In FY2026 (ended 31 March 2026), over 63% of passengers flew on end-to-end package holidays with Jet2holidays, highlighting the strength of its integrated approach.

Capital Allocation Strategy and Shareholder Return Focus

Jet2’s share buyback reflects management’s decision to return capital to shareholders through share cancellation, balancing cash generation with ongoing operational investment. Buybacks reduce share count and can increase earnings per share, benefiting remaining shareholders. The company’s ability to fund buybacks while maintaining its airline and holiday business investments indicates a strong financial position.

The announcement does not specify the total cost or percentage of shares repurchased in this tranche, but these can be inferred from disclosed prices and volumes. No forward guidance on the overall buyback programme’s scale or timing was provided, allowing management flexibility to adjust based on market conditions and cash flow.

Regulatory Compliance and Market Abuse Regulation Reporting

The buyback was conducted in full compliance with the Market Abuse Regulation (EU) No 596/2014, incorporated into UK law. This includes pre-announcement of programme parameters, daily transaction disclosures, and post-completion reporting. A detailed PDF with individual trade data executed by Jefferies International Limited is available on the Regulatory News Service (RNS) platform.

This transparency enables market participants, the FCA, and regulators to verify that purchases were made at fair prices across appropriate venues without market manipulation or insider trading. The provision of VWAPs, price ranges, and venue-level breakdowns further underscores the company’s commitment to regulatory adherence.

Jefferies International Limited’s Role as Broker and Execution Agent

Jefferies International Limited served as the executing broker throughout the five-day buyback, leveraging its extensive UK equities trading capabilities. The broker ensured regulatory compliance, best execution across multiple venues, and managed operational aspects of the share purchases and settlement.

Additional advisors include Cavendish Capital Markets Limited as Nominated Adviser and Canaccord Genuity Limited as joint broker. Contact details for Jet2’s executive team—CEO Steve Heapy, CFO Gary Brown, and Finance & Investor Relations Director Mark Buxton—are provided for investor inquiries.

Investment Insights and Market Environment

Jet2’s share buyback signals confidence in its cash flow and market position within the UK leisure travel and airline sectors. Despite recent volatility from pandemic impacts, inflation, and shifting travel patterns, Jet2’s ability to return capital while sustaining operations at 14 UK airports demonstrates financial resilience.

Investors should consider ongoing sector risks such as fuel price fluctuations, geopolitical events, and consumer spending trends. The buyback price range of 14.35p to 15.18p offers a valuation benchmark. The choice of buyback over dividends or debt reduction reflects strategic capital allocation priorities, which investors may explore further through company communications. Earnings per share impacts were not disclosed here; reviewing Jet2’s latest financial reports is recommended for full context.