28th Jul 2025 07:05
28 July 2025
Jet2 plc (the "Company")
Launch of Second Tranche of Share Buyback Programme
Jet2 plc, the Leisure Travel group, announces that it has instructed Jefferies International Limited ("Jefferies") on the second tranche (the "Second Tranche") of its up to £250 million share buyback programme in respect of its ordinary shares of 1.25p each ("Ordinary Shares") announced on 29 April 2025 (the "Share Buyback Programme"). The Second Tranche will be up to a maximum aggregate consideration of approximately £125 million and will commence today. It is anticipated that the Second Tranche will run for a period of up to six months.
Under this instruction, Jefferies will act as "riskless" principal and will make its trading decisions in relation to the Ordinary Shares independently of, and uninfluenced by, the Company in accordance with certain pre-set parameters, including those prescribed by the Market Abuse Regulation (EU) No 596/2014 (as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 (as amended)). Any purchases of Ordinary Shares by the Company will be effected in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase Ordinary Shares granted by its shareholders from time to time (at the Company's Annual General Meeting on 5 September 2024, shareholders gave the Company authority to purchase a maximum of 21,468,385 Ordinary Shares, of which 14,375,580 remain available as at the date of this announcement). The Second Tranche will be discontinued if the Company ceases to have the necessary general authority to purchase Ordinary Shares.
All Ordinary Shares purchased will be cancelled.
The Company intends to announce any purchase of Ordinary Shares under the Share Buyback Programme on the business day following the calendar day on which the purchase occurred.
To date, the Company has purchased 7,092,805 Ordinary Shares under the Share Buyback Programme for a total consideration of approximately £125.007 million.
The person responsible for making this announcement on behalf of the Company is Gary Brown.
For further information, please contact:
Jet2 plc Steve Heapy, Chief Executive Officer | Tel: 0113 239 7692 |
Gary Brown, Group Chief Financial Officer | |
Institutional investors and analysts: Mark Buxton, Finance and Investor Relations Director | Tel: 0113 848 0242 |
Cavendish Capital Markets Limited - Nominated Adviser Katy Birkin / George Lawson | Tel: 020 7220 0500 |
Jefferies International Limited - Joint Broker Ed Matthews / Jee Lee | Tel: 020 7029 8000 |
Canaccord Genuity Limited - Joint Broker Adam James / Harry Rees | Tel: 020 7523 8000 |
Burson Buchanan - Financial PR Richard Oldworth / Toto Berger | Tel: 020 7466 5000 |
Notes to Editors
Jet2 plc is a Leisure Travel group, comprising Jet2holidays, the UK's leading provider of ATOL protected package holidays to leisure destinations across the Mediterranean, Canary Islands and European Leisure Cities, and Jet2.com, the UK's third largest airline by number of passengers flown, which specialises in scheduled holiday flights. In the financial year ended 31 March 2025, over 66% of flown passengers took an end-to-end package holiday with the remainder taking a flight-only.
Jet2 currently operates from 13 UK airport bases at Belfast International, Birmingham, Bournemouth, Bristol, East Midlands, Edinburgh, Glasgow, Leeds Bradford, Liverpool John Lennon, London Luton, London Stansted, Manchester and Newcastle.
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