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U.K. (FTSE) Airlines Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies4
  • 7D-6.2%
  • 3M-18.5%
  • 1Y1.7%
  • YTD-18.9%

Over the last 7 days, the Airlines industry has dropped 6.2%, driven by declines from every company within the industry. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 4.8% annually.

Industry Valuation and Performance

Has the U.K. Airlines Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Mar 2026UK£22.0bUK£51.1bUK£4.1b5.1x5.3x0.4x
Fri, 13 Feb 2026UK£27.2bUK£51.4bUK£3.9b6.3x6.9x0.5x
Sun, 11 Jan 2026UK£27.2bUK£51.2bUK£3.8b7x7.1x0.5x
Tue, 09 Dec 2025UK£25.9bUK£51.4bUK£3.8b6.4x6.7x0.5x
Thu, 06 Nov 2025UK£25.8bUK£46.0bUK£3.6b7.1x7.1x0.6x
Sat, 04 Oct 2025UK£24.2bUK£45.7bUK£3.6b6.5x6.8x0.5x
Mon, 01 Sep 2025UK£24.7bUK£45.6bUK£3.6b7.5x6.9x0.5x
Wed, 30 Jul 2025UK£24.2bUK£45.0bUK£3.4b7.5x7.2x0.5x
Fri, 27 Jun 2025UK£24.4bUK£48.9bUK£3.6b7x6.8x0.5x
Sun, 25 May 2025UK£23.0bUK£44.0bUK£3.4b7.6x6.9x0.5x
Tue, 22 Apr 2025UK£18.2bUK£43.8bUK£3.3b5.7x5.5x0.4x
Thu, 20 Mar 2025UK£21.0bUK£43.2bUK£3.2b6.2x6.5x0.5x
Sat, 15 Feb 2025UK£23.5bUK£42.3bUK£3.3b6.9x7.1x0.6x
Mon, 13 Jan 2025UK£23.5bUK£46.8bUK£3.6b6.4x6.6x0.5x
Wed, 11 Dec 2024UK£23.1bUK£46.2bUK£3.5b6.6x6.5x0.5x
Fri, 08 Nov 2024UK£18.0bUK£40.4bUK£3.0b8.1x6.1x0.4x
Sun, 06 Oct 2024UK£16.2bUK£40.6bUK£3.0b7.6x5.4x0.4x
Tue, 03 Sep 2024UK£15.6bUK£40.8bUK£3.0b7.8x5.2x0.4x
Thu, 01 Aug 2024UK£16.5bUK£44.5bUK£3.4b6.9x4.9x0.4x
Sat, 29 Jun 2024UK£16.5bUK£44.3bUK£3.4b6.9x4.8x0.4x
Mon, 27 May 2024UK£17.1bUK£44.7bUK£3.5b6.9x5x0.4x
Wed, 24 Apr 2024UK£16.0bUK£39.6bUK£3.0b7.4x5.3x0.4x
Fri, 22 Mar 2024UK£15.5bUK£39.6bUK£3.0b7.1x5.1x0.4x
Sun, 18 Feb 2024UK£14.4bUK£38.7bUK£2.8b6.8x5.2x0.4x
Tue, 16 Jan 2024UK£15.9bUK£43.0bUK£3.0b8x5.3x0.4x
Thu, 14 Dec 2023UK£16.1bUK£43.0bUK£3.0b7.6x5.3x0.4x
Sat, 11 Nov 2023UK£12.8bUK£37.4bUK£2.3b5.8x5.6x0.3x
Mon, 09 Oct 2023UK£13.5bUK£36.0bUK£2.0b6.2x6.9x0.4x
Wed, 06 Sep 2023UK£13.5bUK£35.6bUK£1.9b6.2x7x0.4x
Fri, 04 Aug 2023UK£13.9bUK£35.9bUK£1.9b6.5x7.1x0.4x
Sun, 02 Jul 2023UK£14.3bUK£33.6bUK£1.1b10.7x13x0.4x
Tue, 30 May 2023UK£14.0bUK£33.8bUK£1.1b10.2x12.7x0.4x
Thu, 27 Apr 2023UK£13.6bUK£30.9bUK£382.2m15.8x35.6x0.4x
Sat, 25 Mar 2023UK£13.0bUK£30.8bUK£379.8m15.5x34.3x0.4x
Price to Earnings Ratio

34.3x


Total Market Cap: UK£13.0bTotal Earnings: UK£379.8mTotal Revenue: UK£30.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Airlines Industry Price to Earnings3Y Average 8x202420252026
Current Industry PE
  • Investors are pessimistic on the British Airlines industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 5.3x which is lower than its 3-year average PE of 8.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.44x.
Past Earnings Growth
  • The earnings for companies in the Airlines industry have grown 121% per year over the last three years.
  • Revenues for these companies have grown 18% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.K. Industrials industry?

GB Market-0.46%
Industrials-1.90%
Airlines-6.20%
Airlines-6.20%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
No data available

Latest News

WIZZ
UK£9.30
Wizz Air Holdings
7D
-2.4%
1Y
-47.6%

WIZZ: Reset Profit Margins Will Expose Elevated P E Assumptions To Downside

Analysts have trimmed their price targets for Wizz Air Holdings, with recent cuts such as £7.50 from £8.10 and £14.00 from £16.00 contributing to a lower fair value estimate, alongside a reset profit margin outlook and a higher assumed future P/E. Analyst Commentary Recent Street research updates reflect a cautious tone around Wizz Air Holdings, with several firms revisiting their assumptions on earnings power, profitability and what investors are willing to pay via the P/E multiple.
JET2
UK£10.93
Jet2
7D
-7.5%
1Y
-21.1%

JET2: 2026 Profit Guidance Will Support Confidence Despite Slightly Softer Outlook

The updated analyst price target for Jet2 edges lower to £13.25 to £14.00, reflecting slightly softer fair value assumptions and recent Street research in which analysts trimmed targets from £14.50 as they fine tune discount rates, revenue growth and profit margin expectations, while maintaining broadly neutral ratings. Analyst Commentary Recent Street research on Jet2 has centred on fine tuning price targets rather than making major changes to ratings, with JPMorgan and others adjusting their fair value ranges while keeping broadly neutral views on the shares.
IAG
UK£3.55
International Consolidated Airlines Group
7D
-5.6%
1Y
20.8%

IAG: Higher Oil Sensitivity And Management Changes May Constrain Re Rating Potential

International Consolidated Airlines Group's analyst price target has been nudged higher to £4.40. This reflects updated models that factor in revised assumptions on revenue growth, margins and P/E multiples, alongside recent research where analysts highlight potential benefits if fuel costs ease and sentiment toward airline shares improves.
EZJ
UK£3.62
easyJet
7D
-9.8%
1Y
-26.4%

EZJ: Shares Will Seek Upside As Mixed Ratings Support Medium Term P E Rebound

Narrative update easyJet's updated analyst price target edges lower by about £0.14. This reflects a mix of reduced fair value, a slightly lower discount rate and revised expectations for revenue, margins and future P/E as analysts digest recent target moves and rating changes from major banks.