Jet2, the London-listed leisure travel group, has announced a significant £250 million share buyback program following a robust fiscal performance. The company expects to report a profit before foreign exchange revaluation and taxation of between £565.0 million and £570.0 million for the year ended 31 March, marking a 9% increase from the previous year. This move underscores Jet2's confidence in its sustainable cash-generative business model and strong balance sheet, which boasts total cash of £3.2 billion and an 'Own Cash' balance of £1.1 billion at the end of FY25.

The share buyback initiative is set to enhance earnings per share by cancelling the repurchased shares, a strategy that has been well-received by the market. Peel Hunt analysts described the buyback as 'very positive,' highlighting the company's robust financial health. Jet2's decision reflects a broader trend among corporations with strong cash positions to return value to shareholders, albeit in a manner that favors institutional investors over private ones, especially those investing through tax-free wrappers like ISAs.

Looking forward, Jet2 is optimistic about its growth prospects, with 'on sale capacity' for summer 2025 currently 8.3% higher than the previous year, totaling 18.6 million seats. This expansion is partly attributed to the company's new bases at Bournemouth and London Luton airports, which contribute approximately 4% of the growth. Despite the positive outlook, Jet2 acknowledges the challenges posed by limited visibility and a trend towards later booking profiles in the travel sector.

The announcement has had a palpable impact on Jet2's stock, with shares climbing nearly 15% following the release of its trading statement. Analysts from RBC and Peel Hunt have lauded the company's strong return on invested capital and attractive valuation, suggesting that Jet2's integrated model and customer experience position it well for continued growth and value creation in the competitive leisure travel market.

London's Metropolitan Police has reversed its longstanding position on grooming gangs in the capital, acknowledging for the first time that it has multiple active investigations into group-based child sexual exploitation. The shift came after an investigation by MyLondon and The Daily Express challenged official statements from both police leadership and Mayor Sadiq Khan, who had consistently maintained there were "no reports" or "no indication" of Rochdale or Rotherham-style rape gangs operating in London.

The investigation uncovered evidence from four separate His Majesty's Inspectorate of Constabulary and Fire & Rescue Services reports spanning 2016 to 2025 that documented at least six potential victims of grooming gang abuse. These case studies, which the Mayor of London personally responded to according to public statements, described children as young as 13 being exploited by groups of predatory men. The reports detailed how girls were plied with drugs and alcohol, raped in hotels by multiple perpetrators, and subjected to life-threatening situations.

Metropolitan Police Commissioner Sir Mark Rowley revealed to Assembly Members at City Hall that the force now acknowledges a "steady flow" of live multi-offender child sexual exploitation investigations and a "very significant" number of historic cases requiring reinvestigation. The commissioner estimated these reviews would cost "millions of pounds a year, for several years" to properly investigate, contradicting previous assertions that the force had "not seen" such cases in London.

Political figures including Reform UK MP Lee Anderson and Shadow Home Secretary Chris Philp have criticized the mayor's handling of the situation, with Anderson stating there is "real, credible evidence that grooming gangs exist in London" and Philp alleging that Khan is "facilitating a cover-up." A spokesman for the mayor maintained that Khan has "always been clear that the safety of Londoners is his top priority" and remains "committed to doing all he can to protect children in London."