An intended exit from AIM

Jet2 (LSE:JET2), the Leeds-based leisure airline and package holiday operator, used its Annual General Meeting statement on 3 September 2026 to announce that it intends to move its shares from AIM to the Main Market of the London Stock Exchange. Admission is expected before the end of the company's financial year in March 2027. The board described the move as a natural next step and said it aims to attract a broader range of UK and international institutional investors, while acknowledging AIM's role in the company's growth.

The move would reverse a decision taken two decades ago: the business, then called Dart Group, moved from the Main Market to AIM in August 2005. Jet2's shares were about 1,464p at the close of the 2 November session.

What it means for the index

At a Market Value of about £2.8bn at the time, Jet2 was AIM's second-most valuable company. A transfer to the Main Market would end its eligibility for the FTSE AIM UK 50 and remove one of the larger constituents from the index. Several AIM companies have made similar moves in recent years, including Gamma Communications, GlobalData, CVS Group and GB Group, which have since entered the FTSE 250. AIM now has about 600 companies worth roughly £60bn, down from 1,700 at the end of 2007, and linked the trend to regulatory efforts to reduce the cost of a Main Market listing.

Whether Jet2 would join the FTSE 250 depends on the index provider's eligibility rules and review timetable once it is admitted, so index inclusion should not be assumed. Details such as the precise listing category and timetable have not been the subject of a separate announcement since September.

The trading backdrop to the decision

The September statement reported booked passengers for summer 2026 up 8.8% on the previous year, ahead of the 7.1% growth reported in July, on seat capacity that the company put at 19.9 million. Seat capacity for winter 2026/27 was planned at 5.9 million, 8% higher year on year, with much of the growth at London Gatwick, where operations began in March and where it plans to base seven aircraft next summer. The company said 93% of its jet fuel requirements for the year to March 2027 were hedged at an average of US$753 per tonne.

Jet2 (LSE:JET2) is also running a share buyback. On 2 November 2026 it published its latest transaction in own shares notice and an updated total voting rights figure, both routine disclosures within the past 24 hours.

Why it matters, and the risks

For the company, a Main Market listing could widen the pool of investors able to hold the shares, as some institutions face restrictions on AIM holdings. For existing shareholders, a move generally brings stricter governance and disclosure requirements, and it may change the tax treatment for some private investors who hold AIM shares for Inheritance Tax relief. Each holder's position would depend on their own individual circumstances.

The operational risks are separate from the listing decision. The September statement came as the aviation sector faces high energy costs and weaker travel demand, against the backdrop of conflict in the Middle East. Hedging limits fuel exposure for the current year but not beyond it, and shifts in booking patterns can make pricing and load factors harder to predict.

What to watch next

Investors are likely to look for formal documentation on the move, including the target admission date and whether any Shareholder approvals will be required, as well as the company's half-year results for the six months to 30 September 2026, for which a date has not yet been announced.