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Jet2 reconfirmed as eligible for up to £200m through Covid Corporate Financing Facility
StockMarketWire.com
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Low cost airline Jet2 has been re-confirmed as an eligible issuer for the Covid Corporate Financing Facility (CCFF) for up to £200 million, following a review process conducted by Her Majesty's Treasury.
Jet2 said it intends to issue the full amount of commercial paper through the CCFF prior to the closure of the scheme on 22 March 2021, which will be used to provide standby liquidity if required.
Executive chairman Philip Meeson said: 'The group is grateful to both the Bank of England and HM Treasury for the CCFF, the ongoing provision of the Coronavirus Job Retention Scheme and, together with the responsible liquidity actions already taken by the business, this provides the group with additional headroom to deal with the ongoing cost of disruption to our sector, ensuring we can continue to support our great business through this challenging period.'
As of 7 March 2021, the company's cash position comprised unaudited total cash of £1,189 million and 'own cash' of £892 million, excluding advance customer deposits.
Meeson added: 'We have recently experienced a notable increase in bookings for Summer 2021 in line with the more recent positive news and though still early, we continue to be encouraged by the volume of our customer bookings for both Winter 21/22 and Summer 2022.'
At 1:28pm: (LON:JET2) Jet2 PLC share price was 0p at 1200p
Story provided by StockMarketWire.com
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