Jet2 plc has taken out a £150 million loan and is offering £375 million in convertible bonds to ‘enhance balance sheet capability and flexibility’.
The group said the loan and bond offering ‘further improve the ability for Jet2.com and Jet2holidays to capitalise on any upturn opportunities, benefiting all stakeholders, including shareholders’.
Announcing the new finance plans, Jet2 said it is ‘encouraged’ by longer-term bookings for package holidays.
Its statement said: “As announced in April, the company intends to recommence its flying operations on 24 June 2021.
“Unsurprisingly, current customer booking trends for summer 2021 reflect the availability of truly accessible, UK Government approved destinations.
“However, given the continued short-term uncertainty, we remain encouraged by the volume of customer bookings to date for both winter 2021/22 and for summer 2022, for which package holiday bookings are displaying a materially higher mix of the total.
“Based on this limited visibility, we are confident that once normality returns, our customers will be determined to enjoy the wonderful experience of a well-deserved Jet2 holiday and that Jet2.com and Jet2holidays will continue to have a thriving future, taking millions of UK holidaymakers annually, to the Mediterranean, the Canary Islands and to European leisure cities.”