Jet2 Cancels 765,898 Shares in Ongoing £100m Buyback as New Gatwick Base Nears

Jet2 PLC ( (GB:JET2) ) just unveiled an update.

Jet2 plc has stepped up capital returns to shareholders by repurchasing 765,898 ordinary shares between 10 and 16 March 2026 under its previously announced share buyback programme of up to £100 million. The purchases, executed via Jefferies International across multiple trading venues at volume-weighted average prices ranging from about £10.89 to £11.87, will all be cancelled rather than held in treasury.

Following the cancellation, Jet2 will have 193,538,893 shares in issue, a reduction that marginally enhances earnings per share and may support the stock as the group expands its UK footprint with a new base at London Gatwick. The updated share count also resets the denominator for investors’ disclosure obligations under UK transparency rules, clarifying thresholds for reporting changes in significant holdings in the company.

The most recent analyst rating on (GB:JET2) stock is a Buy with a £1255.00 price target. To see the full list of analyst forecasts on Jet2 PLC stock, see the GB:JET2 Stock Forecast page.

Spark’s Take on JET2 Stock

According to Spark, TipRanks’ AI Analyst, JET2 is a Outperform.

Jet2 PLC’s strong financial performance, strategic growth initiatives, and undervaluation relative to peers are significant strengths. The company’s robust earnings call and proactive corporate events, such as the share buyback program, further enhance its investment appeal. However, concerns about cash flow and rising operational costs slightly temper the overall outlook.

To see Spark’s full report on JET2 stock, click here.

More about Jet2 PLC

Jet2 plc is a UK-based leisure travel group comprising Jet2holidays, the country’s leading provider of ATOL-protected package holidays to Mediterranean, Canary Islands and European city destinations, and Jet2.com, the UK’s third-largest airline by passengers flown, focused on scheduled holiday flights. In the year to 31 March 2025, over two-thirds of its passengers bought end-to-end package holidays, which generated more than 80% of group revenue, with the remainder coming mainly from flight-only sales. Jet2 currently operates from 13 UK airport bases including Manchester, Birmingham and London Stansted, and is set to add a 14th base at London Gatwick, where operations are due to begin on 26 March 2026.

Average Trading Volume: 776,106

Technical Sentiment Signal: Hold

Current Market Cap: £1.99B

See more insights into JET2 stock on TipRanks’ Stock Analysis page.