Jet2 raises $582m to ride out pandemic travel slump
British holiday company Jet2 has raised GBP422m through a new share issue to help it ride out the COVID-19 pandemic. With almost a year of travel restrictions having taken a heavy toll, airlines and travel companies were plunged deeper into crisis on Tuesday when Britain tightened its rules. Holidays are already banned under lockdown, but now travellers into the UK must have three COVID-19 tests - one before departure and two in the days after arrival. Desperate for travel to have restarted by this summer, the industry has said the government must urgently set out how it will lift restrictions. Jet2 said its latest fundrasing gives it sufficient liquidity to contend with what it expects to be an extended and unpredictable shutdown, adding that it is maintaining a cautious approach to the 2021 summer season.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-02-15/general/jet2-raises-582m-to-ride-out-pandemic-travel-slump
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Jet2 raises $582m to ride out pandemic travel slump
British holiday company Jet2 has raised GBP422m through a new share issue to help it ride out the COVID-19 pandemic. With almost a year of travel restrictions having taken a heavy toll, airlines and travel companies were plunged deeper into crisis on Tuesday when Britain tightened its rules. Holidays are already banned under lockdown, but now travellers into the UK must have three COVID-19 tests - one before departure and two in the days after arrival. Desperate for travel to have restarted by this summer, the industry has said the government must urgently set out how it will lift restrictions. Jet2 said its latest fundrasing gives it sufficient liquidity to contend with what it expects to be an extended and unpredictable shutdown, adding that it is maintaining a cautious approach to the 2021 summer season.<br/>
