Jet2 agrees to acquire up to £5.9bn worth of new aircraft

Jet2 has struck an agreement with Airbus to purchase 36 new Airbus A321 neo aircraft, and has also agreed flexibility to extend this order up to 60 aircraft.

The firm ordered aircraft deliveries stretch over five years until 2028, and at current prices represent a value of about $4.9bn/£3.6bn, with a total transaction value for up to 60 aircraft of roughly $8.1bn/£5.9bn.

Leeds-headquartered Jet2 says it has negotiated significant discounts from the list price for these aircraft.

The listed company says the major purchase is designed to meet the future anticipated growth of its Leisure Travel business and to refresh its existing aircraft fleet.

It adds it will retain flexibility in determining the most favourable method of financing the aircraft, which will be through a combination of internal resources and debt.

Jet2 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.

“It will ensure our customers have a wonderfully comfortable and enjoyable experience as they travel with us for their well-deserved holidays and can enjoy Real Package Holidays from Jet2holidays® or scheduled holiday flights with that are increasingly more environmentally sustainable for many years to come.”