Jet2 PLC AGM Statement (4180K)
02 Septiembre 2021 - 01:00AM
UK Regulatory
TIDMJET2
RNS Number : 4180K
Jet2 PLC
02 September 2021
2 September 2021
Jet2 plc ("the Company")
Annual General Meeting Statement
At the Company's Annual General Meeting today, Philip Meeson,
Executive Chairman, will make the following statement:
"Following the UK Government's decision to allow quarantine-free
travel to amber list destinations for the fully vaccinated from 19
July, Jet2.com and Jet2holidays have been flying to 32 green and
amber destinations, with a programme representing approximately 55%
of our pre-Covid Summer 19 capacity. In addition, we were also
delighted to successfully commence operations from our new Bristol
base.
Unsurprisingly, given the continuing short-term uncertainty
resulting from the UK Government's three weekly review of its
traffic light system, customers are booking significantly closer to
departure for Summer 21. Despite the limited booking visibility,
pleasingly, we have generated positive financial contribution from
the flying to date, supported by our quick to market, flexible
operating model.
The slower momentum for Winter 21/22 bookings which we reported
in our Preliminary Results in early July has remained. As a result,
bookings have yet to match our on-sale seat capacity and therefore
pricing for both our leisure travel products - end-to-end package
holidays with Jet2holidays and flight-only seats with Jet2.com -
will need to remain consistently enticing. The overall Winter 21/22
capacity remains under continuous review.
For Summer 22, we plan to fly to all our popular leisure
destinations. Bookings to date are encouraging, with average load
factors at the same point ahead of Summer 19 and package holiday
customer numbers as a proportion of total departing customers
showing a material increase. Therefore, we remain optimistic that
Summer 22 will be a considerable improvement on both Summer 20 and
Summer 21.
On 31 August we were pleased to announce our new aircraft order
with Airbus for up to 60 A321 neo aircraft. In our opinion, the
Airbus A321 neo is the most efficient and environmentally friendly
aircraft in its class today.
We believe opportunities for financially strong, resilient and
trusted operators will only increase as travel restrictions are
lifted. As at 30 August, our 'Own Cash' balance (excluding customer
deposits) was GBP1.52bn (4 July 2021: GBP1.46bn), an increase of
GBP0.46bn on 31 March 2021 (GBP1.06bn).
We are confident that once normality returns, our Customers will
be determined to enjoy the wonderful experience of a well-deserved
Jet2 holiday and that Jet2.com and Jet2holidays will continue to
have a thriving future, taking millions of UK holidaymakers
annually, to the Mediterranean, the Canary Islands and to European
Leisure Cities.
The Board will provide a further trading update on publication
of its interim results on 18 November 2021."
For further information please contact:
Jet2 plc Tel: 0113 239 7692
Philip Meeson, Executive
Chairman
Gary Brown, Group Chief Financial
Officer
Cenkos Securities plc - Nominated Tel: 020 7397 8900
Adviser
Katy Birkin/Camilla Hume
Canaccord Genuity - Joint Tel: 020 7523 8000
Broker
Adam James
Jefferies International Limited Tel: 020 7029 8000
- Joint Broker
Ed Matthews
Buchanan - Financial PR Tel: 020 7466 5000
Richard Oldworth
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END
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