United Kingdom
United States
Asia Pacific
Jet2 reports positive 2022 bookings but warns of unpredictable summer
Jet2 has raised £422 million from shareholders to combat the travel ban and warned it was hard to predict when the restrictions woud ease.
The company said the injection of additional funds would provide ‘sufficient liquidity on an extended and likely unpredictable shutdown basis to deal with this continually challenging trading environment’.
In a trading update, the company said it remained cautious about the summer 2021 season despite the ‘continued positive news about the vaccine’.
Seat capacity will be refined as travel guidance evolves, it said.
Jet2 flights and holidays are cancelled until 15 April.
But the company painted a more upbeat long-term picture, with consumers setting their sights on 2022.
"Encouragingly, bookings for Summer 2022 are already very positive when compared against summer 2019, with strong margins and an increased mix of higher margin package holidays bookings," Jet2 said.
Explaining the reasons for the fund raise, Jet2 Executive Chairman Philip Meeson said: "Based on the indicative scenario planning undertaken by management, the board believes that the proceeds will provide sufficient liquidity on an extended and likely unpredictable shutdown basis to deal with this continually challenging trading environment.
"Furthermore, the Directors believe the Fundraise will enable management to continue to adopt a decisive, but prudent, responsible financial management approach, take longer-term strategic decisions to support sustainable long term profit growth and improve the ability for Jet2 to exit the pandemic in a stable commercial position so that it is well positioned to capitalise on the upturn opportunity when it arrives."
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
Florida’s Tourism Boom: Dana Young Analyzes Surge in UK Visitors
Ship crew member arrested after stabbing attack
Two dead, others missing after River Danube boat collision
Disney gets green light for a fifth Florida theme park
American, Australian tourists shot dead in Mexico
How virtual cards are shaping the future of hotel payments