Jet2 warns of big annual loss
Jet2 is forecasting a loss of up to £385 million for the financial year ending 31 March 2021
It blames Covid travel restrictions.
During the last financial year, the group took ‘swift and decisive action’ to raise nearly £1 billion in liquidity from various sources.
As a result it was forced to make deep cuts to reduce its cash burn.
It says it still holds a strong liquidity position despite returning more than £1.3 billion in customers’ deposits due to cancelled holidays and flights.
"We welcomed confirmation from the UK Government’s Global Travel Task Force that international travel remained on track to reopen in mid-May," it said.
"The continuing successful rollout of vaccines in the UK and the increasing momentum in Europe are both encouraging."
Still, it was ‘disappointed at the lack of clarity’ over the proposed traffic light system for reopening and pushed back a proposed restart of operations to 23 June.
Jet2 says it is encouraged by the volume of customer bookings for both winter 20021-2022 and for summer 2022.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026