Industrial Transportation (2770)

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Jet2 to buy up to 60 Airbus planes for expansion

By Sean Farrell

Date: Tuesday 31 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Jet2 has agreed to buy up to 60 planes from Airbus with a total list price of $8.1bn (£5.9bn) to expand and upgrade its existing fleet.
The tour operator and airline said it would buy 36 Airbus A321 planes to be delivered over five years until 2028 with a current list price value of $4.9bn. It said it had negotiated significant discounts on the list price.

Jet2 said it had the option to increase its order to 60 aircraft with a total value of $8.1bn before discounts. It will fund the purchases through internal resources and debt.

Executive Chairman Philip Meeson said: "We are delighted to have placed this order with Airbus and are proud to operate this aircraft which has more seats, provides additional operating benefits through lower fuel consumption and is, in our opinion, the most efficient and environmentally friendly aircraft in its class today."

Jet2 shares fell 1.2% to £11.48 at 12:59 BST.

Jet2 is the UK's second-biggest holiday tour operator and owns the country's third-largest airline. It flies passengers to more than 70 European destinations. Like other travel groups Jet2 has been hit by the Covid-19 crisis, sending it to a loss for the year to the end of March.

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