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Jet2-6

Old 27th Jan 2021, 14:30
  #81 (permalink)  
 
Join Date: Jan 2010
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Great news! 😃 TLS has been unserved from MAN for a while I believe, at least since the demise of Flybe.

Last edited by DomyDom; 27th Jan 2021 at 14:44.
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Old 10th Feb 2021, 08:08
  #82 (permalink)  
 
Join Date: Feb 2008
Location: UK
Age: 64
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more bad news -

Jet2 Hols cancels all holidays & flights until at least 14 April


No doubt TUI and EasyJet Hols will now follow suit sadly...

#NoEasterHols

Mr Hancock indicated today tough border measures may be in place until Autumn.....
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Old 11th Feb 2021, 07:42
  #83 (permalink)  
 
Join Date: Aug 2007
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That booking of mine for the 30th April looking less and less likely then....
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Old 11th Feb 2021, 15:01
  #84 (permalink)  
 
Join Date: Jan 2010
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It's not surprising given that it will be end of April before over 50's are all vaccinated. However that group constitutes 99% of CV19 deaths. Once that group is done the risk of hospitals being overwhelmed drops markedly and comes more into line with what we would typically see with flu. There is the risk of new variants and I suspect we will see some border controls retained for some countries throughout the summer but given that the situation in most continental countries is also improving I can see a summer season albeit at some reduced capacity starting in May. The vaccination programme will also continue so the picture should continue to improve further after then.
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Old 11th Feb 2021, 15:48
  #85 (permalink)  
 
Join Date: Jun 2020
Location: London
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Thank you....so good to hear a bit of optimism amongst the gloom and doom.
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Old 11th Feb 2021, 16:07
  #86 (permalink)  
 
Join Date: Apr 2020
Location: Joined 2005 was Alycidon
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Originally Posted by DomyDom View Post
it will be end of April before over 50's are all vaccinated.
Depends on what you mean by "vaccinated" - SAGA Holidays require a second shot of the vaccine before they will allow you to travel, it will be July - August before the over 50s get their second dose.
I'm not sure family holidays will be possible either if a vaccination is required for the under 18s to cross borders, they are right at the back of the queue.
Some joined up thinking will be needed or this summer will go the same way as summer 20.
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Old 12th Feb 2021, 09:19
  #87 (permalink)  
 
Join Date: Jan 2010
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Fair point D9009 and I don't think we will be completely back to normal this year. What I do think we will see from start of May is a gradual reopening with the reinstatement of travel bridges with countries where infection rates are acceptably low. I would expect that to be combined with evidence of the receipt of 2 doses of vaccine at borders. Don't forget quite a few of the more mature folk amongst us and NHS staff, carers etc. will have had their second jab by then. If vaccines keep going into arms at the current rate I can see a good case to open up our borders where infection rates are low by late spring.
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Old 12th Feb 2021, 11:04
  #88 (permalink)  
 
Join Date: Sep 2007
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I see Jet2PLC have raised 422 Million overnight, might help them in the long term.
https://www.insidermedia.com/news/yo...hrough-placing

Having said all that, todays Business section of The Times, the future depends on a restart sooner than later.

The company has issued this: https://www.jet2plc.com/Investor_Rel...February_2021/

Lets just hope the restart happens soon.
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Old 18th Feb 2021, 12:06
  #89 (permalink)  
 
Join Date: Mar 2005
Location: Newcastle upon Tyne
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Jet2holidays have advised flights and holidays from Bristol cancelled up to and including 30th June 2021
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Old 18th Feb 2021, 14:59
  #90 (permalink)  
 
Join Date: Sep 2007
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is that all flights, or just Holidays?

not good Damn
ford cortina is offline  
Old 18th Feb 2021, 15:29
  #91 (permalink)  
 
Join Date: Oct 2007
Location: Birmingham
Age: 60
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The whole lot
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Old 18th Feb 2021, 15:59
  #92 (permalink)  
 
Join Date: Apr 2020
Location: Joined 2005 was Alycidon
Posts: 19
Surely this is just a delay to the opening of the BRS operation.
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Old 18th Feb 2021, 16:06
  #93 (permalink)  
 
Join Date: Sep 2007
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Damn, I know a couple of guys, accepted Base Transfers there.
Seeing this pandemic is costing 75mill a month, I could see stormy clouds ahead for J2.
best of luck all
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Old 18th Feb 2021, 16:44
  #94 (permalink)  
 
Join Date: Oct 2007
Location: Location, Location
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75 million a month in lost revenue, or operating losses? Where is this data coming from?
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Old 18th Feb 2021, 17:26
  #95 (permalink)  
 
Join Date: Sep 2007
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I was sure it was The Times, or Financial Times. However I stand corrected, its worse:
According to The Times, 12th Feb: https://www.thetimes.co.uk/article/j...torm-cg0zd9qsh
If you cannot access it, here is the quote in full:


"The company has cash of 479 million at present and potentially has access to Bank of England pandemic relief loans of 300 million.
It said that if it was not allowed to start flying properly again until the end of May its cash will have dwindled to about 190 million. If travel restrictions continue longer than expected it indicated that it will have run out of cash by the end of the summer."

Times are tough for all concerned

Just found this: https://www.jet2plc.com/Investor_Rel...February_2021/

Again to quote:
"The Group's current cash position as at 31 January 2021 comprised "Own Cash" of 479m and Total Cash (inclusive of advance customer deposits) of 772m (unaudited).

Jet2 continues to take every step necessary to preserve cash and enhance liquidity to deal with this most challenging of trading environments and the Group has the ability to continue to take additional liquidity actions if required.

Management has prudently prepared three indicative "no fly" scenarios of increasing durations being: restarting flying on 22 May 2021; restarting flying on 16 July 2021; and restarting flying on 1 September 2021. All three scenarios assume a ramp up of flying operations at reduced seat capacity with average load factors that are initially below historic levels. Further, the scenarios assume a cautious outlook for Winter 2021/22 and a full, unhindered Summer 2022 flying programme for the Group's financial year ending 31 March 2023.

Excluding the net proceeds of the proposed Fundraise, any CCFF proceeds, additional debt and/or mitigating actions, the Group's indicative cash flow scenarios show the following:

Restart Flying Scenarios*

Jet2 Own Cash** scenario period low



Calendar Year 2021 Calendar Year 2022

22 May 2021 c.185-195m in May 2021 c.360-370m in April 2022

16 July 2021 c.125-135m in June 2021 c.155-165m in April 2022

1 September 2021 c.(15)-(5)m in August 2021 c.(70)-(60)m in April 2022

Notes:

* Management indicative cash flow scenarios, unaudited and subject to change, for the month ends during the period ending 30 June 2022

**Calculated as total Group gross cash less advance customer deposits

Last edited by ford cortina; 18th Feb 2021 at 17:49.
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Old 18th Feb 2021, 17:53
  #96 (permalink)  
 
Join Date: Jan 2008
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I think you will find that those forecasts are excluding the share fundraiser and excluding the CCFF which they haven’t utilised yet. Admittedly still not great, but they can draw on an additional 422mil from the share issue and 300mil from the CCFF, so not quite running out of cash by the end of the Summer! Added to that they are talking about their own cash in those forecasts, not including customer deposits, which they keep separate.
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Old 18th Feb 2021, 18:22
  #97 (permalink)  
 
Join Date: Sep 2007
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Oceanic815, you are correct, however, I think you will find I never claimed the Share Fundraising and the CCFF were included.
All I have only shown you Jet2PLC's own words, they are not mine.

As for ringfencing customers money, well thats another reason why we have used Jet2 on many occasions for a holiday. I am very happy with their customer service, it is exemplary.

But as I said all I have done is show their own numbers and words.
and they are:
Between 12th Feb and 22nd May they will burn through c.284 Million
to 16th July, c.344 Million
and 1st September, c,484 Million

Amyway you cut it, its going to be tough, I can only imagine some downsizing may be needed


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Old 18th Feb 2021, 18:29
  #98 (permalink)  
 
Join Date: Jan 2008
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Ford cortina, it was more in response to the Times article. They do like to grab a headline. The info you posted from Jet2 itself was what I had seen. I think a lot will depend on what Boris says next week. As for downsizing, it’s possible, but personally I don’t think so. When they are given the green light for holidays, I suspect the pent up demand will mean everyone is required!
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Old 18th Feb 2021, 18:35
  #99 (permalink)  
 
Join Date: Sep 2007
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Well lets hope so, it is in all our intrests that Jet2 thrive.
Here's hoping the delay at Bristol works out well.
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Old 18th Feb 2021, 21:22
  #100 (permalink)  
 
Join Date: Sep 2007
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Mr Good Cat

Just found it, here you go:
https://www.ft.com/content/4b906413-...4-2fef9b56ebf3
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