LONDON (ShareCast) - (Sharecast News) - Jet2 announced that it was strengthening its balance sheet by selling debt, ahead of the restart of flying operations on 24 June.
It also announced that it had further boosted its liquidity after clinching a new credit facility.

The leisure travel operator said it would sell £375m of convertible bonds maturing in 2026 and that it had inked a £150m term loan.

The carrier also put its 'own cash', net of advance customer deposits, at £1.06bn, which was twice the amount held at the end of the previous year.

That was better than it had anticipated as recently as its share placing in February.

Jet2 said the short-term outlook continued to be "uncertain" but added that it was encouraged by bookings for the Winter 2021/22 and Summer 2022 seasons.

"Based on this limited visibility, we are confident that once normality returns, our Customers will be determined to enjoy the wonderful experience of a well-deserved Jet2 holiday."

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