The British tourism group Jet2, to which an airline of the same name also belongs, organized itself through the issue of new shares a total of 422 million pounds sterling. The price per share was £ 1,18.

The group declares in a notification that these have been subscribed to by both existing and new shareholders. There was also an “extreme oversubscription”, which simply means that the demand was higher than the supply. 

"Based on the indicative scenario planning performed by management, the Board of Directors believes that the proceeds on an extended and likely unpredictable shutdown will provide sufficient liquidity to cope with this constantly challenging trading environment," said CEO Philip Meeson. In addition, the Directors believe that the fundraising will enable management to continue to adopt a decisive but prudent and responsible approach to financial management. Make longer term strategic decisions to support sustainable long term earnings growth; and to improve Jet2's ability to end the pandemic in a stable commercial position so that it is well positioned to take advantage of the upturn opportunity if it arrives. The Board of Directors continues to believe that once our customers are able to do so, they will be determined to enjoy the wonderful experience of a well-deserved Jet2 vacation, and that Jet2.com and Jet2holidays will continue to have a bright future and millions of British holidaymakers are taking with them annually to the Mediterranean, the Canary Islands and European leisure cities ”.

Jet2 has its flight program canceled until April 15, 2021, to respond to the latest UK travel restrictions which include costly measures for travelers including Hotel quarantine and multiple Covid-19 tests for arriving passengers.