Get the app today! Download iPhone App Download Android App

SUBSCRIBE

Jet2 Raises £422m Through New Share Issue To Help It Ride Out The COVID-19 Pandemic

Published on Feb 17 2021 1:45 PM in General Industry tagged: Jet2

Jet2 Raises £422m Through New Share Issue To Help It Ride Out The COVID-19 Pandemic

British holiday company Jet2 has raised £422 million through a new share issue to help it ride out the COVID-19 pandemic.

Jet2 said that its latest fundrasing gives it sufficient liquidity to contend with what it expects to be an extended and unpredictable shutdown, adding that it is maintaining a cautious approach to the 2021 summer season.

"This [capital] raise shouldn't come as a surprise but it does highlight the concern on the timing of the recovery that exists within the sector," Goodbody analysts said of the Jet2 share sale.

Equivalent To 20% Of Share Capital Before Fundraising

Jet2 said that the new shares, at a price of £11.80 - representing a 9% discount - are equivalent to 20% of its share capital before the fundraising.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email