Jet2 Share Discussion Threads

[leadersoffice] 11/2/2021 18:34

Says 1.2p in the offer letter??

[snorkelparker] 11/2/2021 18:30

Not sure CT,

Would you think that price has already been negotiated prior to announcement ?

But not seen much volume if prior negotiating had been taking place would expect some more volume.

[castleford tiger] 11/2/2021 18:26

What's Tong had to say I have him on filter so don't see anything.

I am assuming he will have some spin on this?

Price has to fall 20% all things being equal unless market cap is going up!!
Tigere

[snorkelparker] 11/2/2021 18:16

I wish I was out watching this unfold unfortunately took a small position a few days back.

Yep Campomar, at 3 bill it looks pretty silly.

Just wonder how the book value will shake out. Guess be announced tomorrow. Price surely will be already negotiated with incoming institutions ?

[32campomar] 11/2/2021 18:07

There's currently 180 million shares in issue, so with 20% on top that's approx 220 million. At £13 its a market cap of approach £3 billion, which Is frankly ridiculous.

[fozzie] 11/2/2021 17:58

It says on my PBid account that the price is to be determined after the book build has been completed, ie it could be anything. Uninvestible on that basis imo. I just cannot see how Jet2 is trading at c£13.00 anyway given its markets are completely at the mercy of European governments and policies around COVID.

[snorkelparker] 11/2/2021 17:57

Thanks Suet,

Out for me as don't have UK details, seems cant open an account from overseas or have a UK debit card so skip I think.

[suetballs] 11/2/2021 17:52

I reckon they'll be well over subscribed.
But not long to wait.
Suet

[castleford tiger] 11/2/2021 17:36

whats the strike price?

The worry is that HM may not be giving them the 300m.

Whats this going to open at tomorrow?

its not 350m invested but rather 350m to plug a big hole.

Got to drop a few quid tomorrow?

Tiger

[suetballs] 11/2/2021 17:29

snorkel - you just apply for as many £'s as you like however it must be paid by debit card.
It's not a rights issue.
Suet

[suetballs] 11/2/2021 17:26

I have applied for a few on the basis that this capital raise will see them through.
PrimaryBid is very difficult to get on to - so perhaps there is quite a bit of demand.
Suet

[snorkelparker] 11/2/2021 17:24

Can anybody advise how the retail share purchase works ?

Its not based on any current holdings ?

[32campomar] 11/2/2021 17:04

Another 20% of existing shares to be placed. Same as last spring. Don't have much choice do they?

[our haven] 11/2/2021 16:51

What do you guys still invested make of the placement for 1.25p at a minimum amount of £8m?

[grahamnash] 11/2/2021 13:56

FWIW. I decided to get out because J2 is now at the mercy of vaccine news, in particular the South African variant. Still unclear is the effectiveness of vaccines against it. UK variant will spread but hospitalisations controlled by all current vaccines. Remember its hospitalisations which are important,not deaths. My personal view: if SA variant leads to hospital treatment we could be back at square one for a few months. Took profits, standing back, waiting to go back in. Not trolling or whatevering. GLA

[snorkelparker] 11/2/2021 12:49

yep..rich fair points...would add one thing..the view that fuel hedge should be a loss ..they maybe taken positions first on perceived demand. oil has gone up so unless I'm mistaken that means profits on the hedges .

[castleford tiger] 11/2/2021 12:28

1119

Some excellent points.
JET2 have got the untapped loan to go at but its going to be tight if this summer see a loss.

The depreciation charge alone will hurt the balance sheet.

Many holidays have been rolled forward so whilst they have the cash they have not yet delivered the service and that's the costly part.

I am on the fence because I need to see what damage has been done to the company.

Of course they will survive but there are so many "unknowns" at the moment it cannot be worth 2.5b

tiger

[richi_rich13] 11/2/2021 12:02

Everyone knows that there will be summer holidays however there are factors outside of the government control - namely what other countries will/ will not allow, what the entry requirements will be (vaccine +/- negative test) and what, if any, significant variants are circulating in the UK/ other countries.

It makes sense to say hold fire booking holidays until we have sorted these issues out and have agreements with other countries. I am pretty confident that a vaccine passport will become the norm, but will a 35 year old have had 2 doses 10 weeks apart 2 weeks for immunity by May, June or July to allow a holiday to Portugal, Spain or Greece if that is their entry criteria? Seems much more unlikely.

Whilst the vaccine progress is very impressive there is still a huge way to go to reach the "family holiday" cohort. Most so far have only has 1/2 the vaccine course and most of those are >70 (i.e. not Jet 2 main customers). Hence the government caution on booking overseas holidays.

I am a huge fan of Jet 2 but am worried that they are going to need a further fundraising to tick them over into the summer. They are currently hemorrhaging cash- Based on H1 results at 30th Sept "own cash" was £652 million which had reduced to £631 million by Nov 15th, including a $75 million financing from 6 aircraft - which is around £13 million / week cash outflow once included. If this is sustained until 1st week in May then would be further £260 million outflow. Since then they have cancelled all flights until April and who knows what the fuel hedging loss will be.

Long term I am very bullish on Jet 2 but currently priced for perfection - Happy to be proved wrong.

[snorkelparker] 11/2/2021 08:39

no big gap down today is a start..

[festario] 10/2/2021 19:09

Interesting isn't it?I don't go in for conspiracy theories usually.But it's strange that when the case numbers are flying down, the TV news relegate Covid much further down the running order.Similarly, only 5 weeks into 2021, and you have ministers telling us not to contemplate any holidays abroad OR in the U.K this summer.What the hell are they playing at?