PPRuNe Forums - View Single Post - The Master List
Thread: The Master List
View Single Post
Old 9th Jul 2021, 16:45
  #137 (permalink)  
Brian Pern
 
Join Date: Apr 2019
Location: in the sky
Posts: 157
Received 1 Like on 1 Post
To put it into perspective,
£215 Million off the banks, unsecured, but short term loan (£65 Million in revolving credit, a bit like a credit card and £150 Million in unsecured loan)
£387 Million in senior Converted Bonds, typically done by start ups, to raise capital, high risk but offer higher reward. In reality they will have to pay back a higher amount of interest on these, as there is a risk.
£103 Million mortgaging aircraft, a bit like a loan on your car.
and finally £199 Million off the UK government, a loan to help companies due Covid, again a loan.
I would not say confidence, the only confidence I see is in the fact Jet 2 have a lot of large assets, Aircraft, Parts, Engines airport equipment all of which can be sold to service any debt.

In fact in 2019, the last year untainted by Covid, Jet2 made £177.5 Million before taxation. Thanks to covid they will be repaying this debt for some time.
Brian Pern is offline