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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Jet2 Plc | LSE:JET2 | London | Ordinary Share | GB00B1722W11 | ORD 1.25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13.00 | 0.91% | 1,443.00 | 1,441.00 | 1,443.00 | 1,447.00 | 1,419.00 | 1,419.00 | 491,397 | 15:41:04 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Air Transport, Nonscheduled | 6.26B | 399.2M | 1.8593 | 7.76 | 3.07B |
From Jul 2019 to Jul 2024
TIDMDTG
RNS Number : 9434V
Dart Group PLC
03 November 2014
3 November 2014
DART GROUP PLC ("Dart" or "the Group")
SUPREME COURT REJECTS APPLICATION TO APPEAL IN HUZAR v JET2.COM LTD
- PROVISION TO COVER POTENTIAL CLAIMS
Dart Group PLC, the Leisure Travel and Distribution & Logistics Group, announces that its wholly owned operating company Jet2.com has had its application to the Supreme Court to appeal the Court of Appeal's earlier decision of June 2014 rejected. Jet2.com maintained that in certain circumstances a technical defect was an "extraordinary circumstance" under EU regulation 261.
Previously the European National Enforcement Bodies (for example the UK Civil Aviation Authority) had agreed that unexpected technical defects, such as the one in this case, were outside of the control of airlines and would therefore be considered "extraordinary" for the purposes of customer compensation.
Safety has always been Jet2.com's first priority. Aircraft have duplicate and triplicate systems to ensure that flights may continue to their destination safely. However, certain technical issues can prevent or delay departures. For these the company has back up and contingency plans to minimise inconvenience to customers.
Dart will be making a provision of GBP17m in its current financial year in order to cover potential historical claims arising from the Supreme Court's decision. Going forward, the Board estimates that the legislation may cost the Group a further GBP3m-GBP5m per annum. The Board is currently further reviewing its options to mitigate the future financial impact on its air travel operations.
For further information contact:
Dart Group PLC Tel: 0113 238 7444 Philip Meeson, Group Chairman and Chief Executive Gary Brown, Group Chief Financial Officer Smith & Williamson Corporate Finance Tel: 020 7131 4000 Limited Nominated Adviser David Jones Canaccord Genuity - Joint Broker Tel: 020 7523 8000 Peter Stewart / Mark Whitmore Arden Partners - Joint Broker Tel: 020 7614 5900 Christopher Hardie Buchanan - Financial PR Tel: 020 7466 5000 Richard Oldworth
This information is provided by RNS
The company news service from the London Stock Exchange
END
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