2nd Jun 2021 17:44
Jet2 PLC - airline and package holiday operator - Signs new GBP150 million term loan and is launching an offering of around GBP375 million of guaranteed senior unsecured unrated convertible bonds due 2026.
Says liquidity position is strong, with cash position at end of March comprising total cash of GBP1.38 billion and 'own cash', excluding advance customer deposits, of GBP1.06 billion. Offering takes advantage of current financing environment and proceeds will be used to strengthen balance sheet further and position firm for "strong recovery" as lockdown restrictions ease.
"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," Jet2 says.
Current stock price: 1,357.70 pence
Year-to-date change: down 5.1%
By Lucy Heming;Â [email protected]
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