First Class co-writer Jane Goldman told MTV that she would be 100% on board for the sequel. That's of course if Matthew Vaughn returns and asks for her help. The story goes Vaughn and Goldman completely re-wrote the previous drafts of the first installment. It would make sense that if Vaughn returns to direct he'd rely on his writing partner to help put together another solid script. It's unknown when we could see First Class 2 hit theaters but I assume Fox is eager to move quickly. Fox currently has The Wolverine and Deadpool currently in development as well.
"James and Michael brought so much to them that I think it's entirely natural to be talking about where those characters would go next. It was inherent in their stories and their arcs. There are so many interesting places to go."
"In terms of what's going on with that, again from my point of view, it's down to what Matthew [Vaughn] decides to do. If he decides he wants to direct the next one and if he wants me on board, I'm 100 percent there."