Last checked at 18 Oct 2022 07:00
18 October 2022
Jet2 plc
("Jet2", the "Group" or the "Company")
Aircraft Order
Jet2 plc is pleased to announce that to meet the future anticipated growth of its Leisure Travel business and to refresh its existing aircraft fleet, the Company has entered into an agreement with Airbus to purchase 35 new firm ordered Airbus A320 neo aircraft with the ability for this to extend to up to 71 aircraft.
The firm ordered aircraft deliveries stretch over three years until 2031 and at base price represent a total value of approximately $3.9 billion, with a total transaction value for up to 71 aircraft of approximately $8.0 billion, though the Company has negotiated significant discounts from the base price.
This order, which is in addition to the A321 neo aircraft orders announced in 2021, means Jet2 now has a total of 98 firm ordered aircraft, which could eventually extend to up to 146 aircraft.
The Company will retain flexibility in determining the most favourable method of financing the aircraft, which will be through a combination of internal resources and debt.
Jet2 plc's Executive Chairman Philip Meeson said:
"We are delighted to build on our existing relationship with Airbus and to have placed this additional aircraft order which provides the Company with certainty of supply well into the next decade. The order reflects our confidence that we have a much-loved product built on sector leading Customer Service which we can continue to grow and these aircraft will ensure our Customers have a wonderfully comfortable and enjoyable experience as they travel with us for their well-deserved Real Package Holidays from Jet2holidays® or scheduled holiday flights with Jet2.com."
For further information, please contact:
Jet2 plc Philip Meeson, Executive Chairman Gary Brown, Group Chief Financial Officer | 0113 239 7692 |
Cenkos Securities plc Nominated Adviser Katy Birkin / Camilla Hume | 020 7397 8900 |
Canaccord Genuity Joint Broker Adam James | 020 7523 8000 |
Jefferies International Limited Joint Broker Ed Matthews | 020 7029 8000 |
Buchanan Financial PR Richard Oldworth | 020 7466 5000 |
Notes to Editors
· Jet2holidays is the UK's largest package holidays provider to many Mediterranean and Canary Islands leisure destinations and Jet2.com is the UK's third largest airline by number of passengers flown.
· Jet2 currently operates from 10 bases across the UK - London Stansted, Manchester, Birmingham, Bristol, East Midlands, Leeds Bradford, Edinburgh, Glasgow, Newcastle and Belfast International.
Certain information contained in this announcement would have been deemed inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time, until the release of this announcement.