Jet2 parent has ‘sufficient liquidity’ for a year without flights
UK leisure carrier Jet2’s parent company Dart Group has concluded from a modelling exercise that it would have “sufficient liquidity” for a scenario in which no flights could be operated until August of next year. Amid “uncertainty” over how the Covid-19 pandemic might affect its business in the coming months, Dart Group says it modelled a “no-fly scenario through to 1 August 2021 to assess the liquidity position over the entire going-concern period of at least 12 months” from the signing of its annual report, released on 11 August. “The directors concluded that given the combination of a closing cash balance of GBP1,387.5m at 31 March 2020, together with the additional actions taken to increase liquidity since the year end and the forecast monthly cash utilisation, the group would have sufficient liquidity throughout this period,” says the company in its report. It adds that directors “have a reasonable expectation that the group as a whole has adequate resources to continue in operational existence for a period of 12 months from the date of approval of the financial statements”.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-08-12/unaligned/jet2-parent-has-2018sufficient-liquidity2019-for-a-year-without-flights
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Jet2 parent has ‘sufficient liquidity’ for a year without flights
UK leisure carrier Jet2’s parent company Dart Group has concluded from a modelling exercise that it would have “sufficient liquidity” for a scenario in which no flights could be operated until August of next year. Amid “uncertainty” over how the Covid-19 pandemic might affect its business in the coming months, Dart Group says it modelled a “no-fly scenario through to 1 August 2021 to assess the liquidity position over the entire going-concern period of at least 12 months” from the signing of its annual report, released on 11 August. “The directors concluded that given the combination of a closing cash balance of GBP1,387.5m at 31 March 2020, together with the additional actions taken to increase liquidity since the year end and the forecast monthly cash utilisation, the group would have sufficient liquidity throughout this period,” says the company in its report. It adds that directors “have a reasonable expectation that the group as a whole has adequate resources to continue in operational existence for a period of 12 months from the date of approval of the financial statements”.<br/>
