As of early 2026, Jet2 PLC does carry debt, which is a standard part of its financial structure for funding operations and aircraft acquisitions. Financial data from February 2026 indicates a total debt of approximately £2.02 billion, which represents an increase of about 16.7% from the previous year. However, analysts often view Jet2's debt through the lens of its Debt-to-Total Capital ratio, which recently improved to roughly 38%, down from higher levels in previous years. This suggests that while the absolute debt figure is high, the company’s equity and overall capital position have strengthened, indicating a manageable financial risk for the airline and holiday provider.