UK holiday company Jet2 says visibility is limited as summer approaches

Jet2 planes parked at Birmingham Airport as the spread of coronavirus disease (COVID-19) continues, Birmingham, Britain March 28, 2020. REUTERS / Phil Noble / Files

LONDON, July 8 (Reuters) – British airline and holiday company Jet2 (JET2.L) said it continued to have limited visibility into the current summer travel season, after dropping to a loss of 374 million pounds ($ 515.04 million) during the year to end of March due to the pandemic.

Jet2, which sells package tours and flights to European leisure destinations, said its liquidity remained strong at £ 1.46 billion, despite crisis-related losses and repayments it had to make when his planes were grounded.

For the current fiscal year, the company has indicated that its performance will depend on the level of flight authorized over the rest of the summer and over its winter period, over which it currently has limited visibility.

That may have changed later on Thursday. UK Transport Minister Grant Shapps is expected to present details of a plan to allow fully vaccinated Britons to return to England without quarantine, paving the way for millions of trips. Read more

Turning to next summer, Jet2 said it was optimistic 2022 would be a “huge improvement” from the previous two years, with bookings already showing a higher proportion of higher margin package vacations in the world. mix.

($ 1 = 0.7262 pounds)

Reporting by Sarah Young; edited by William James

Our Standards: Thomson Reuters Trust Principles.

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