JET2 loss now expected to be narrower than first feared

Low-cost leisure airline and packaged holiday provider Jet2 confirmed today that as a result of the Covid-19 pandemic, it expected to report a pre-tax group loss of between £375m and £385m for the 2021 financial year, from group profit before hedging losses, foreign exchange revaluations and taxation of £264.2m in 2020. Jet2 confirmed that its liquidity position was “strong”, with the group’s unaudited cash position as at 31 March at £1.38bn, excluding advance customer deposits, it is standing at £1.06bn. That figure is after returning just over £1.3bn of customer deposits. “The continuing successful rollout of vaccines in the UK