Jet2 Launches £250m Share Buyback Program
Why we think this is neutral
This RNS announcement is a general corporate update regarding Jet2 plc's launch of a £250 million share buyback program. While the buyback program may be viewed positively by investors, the announcement does not contain any specific financial results, trading updates, or other mandatory news types that would warrant a stronger sentiment score. Therefore, a neutral sentiment score is appropriate in this case.
Key Points
- Jet2 plc has launched a £250 million share buyback program
- The program will be conducted in two tranches over the next 6-9 months
- All shares purchased will be cancelled to reduce the company's share capital
- Jet2 cites its strong cash generation, balance sheet, and confidence in the business as reasons for the buyback
Summary
Jet2 plc has announced the launch of a £250 million share buyback program, which is expected to run over the next six to nine months. The company cites its sustainable cash generative business model, strong balance sheet, and continued confidence in the prospects for the business as reasons for the buyback. The program will be conducted in two tranches, with the first tranche of up to £125 million commencing immediately. All shares purchased under the program will be cancelled to reduce the company's share capital.