Summary
Summary Companies Exec chair Meeson to step down
FY profit 390.8 mln stg
Restarts dividend
Shares down 12% on placement speculation
LONDON, July 6 (Reuters) – Jet2 (JET2.L) has seen a pick-up in demand for package holidays as Britons seek certainty on spending in a cost of living crisis, the travel company said on Thursday, as it met annual profit forecasts.
Philip Meeson, who built Jet2 into Britain’s biggest seller of package holidays, will step down as executive chairman and leave the board later this year, the company also said.
British aerobatics champion Meeson bought the firm in 1983 when it was a freight carrier flying flowers to Britain from the Channel Islands and transformed it into an airline flying leisure passengers from 2003.
The Leeds-based company overtook former package holiday market leader TUI last year, and said it was confident of future demand despite the pressure on disposable incomes from high inflation and rising interest rates.
UK’s Jet2 says cost of living crisis lifts demand for package holidays
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