Meeson bought the business in 1983 when it was a small cargo airline and distribution company serving the Channel Islands. The company subsequently listed in November 1988 and has since become one of the UK’s largest leisure travel businesses.

He will move into a non-executive role during the course of this year and will remain in that role until a successor is appointed. It follows the announcement in April of the appointments of Simon Breakwell and Angela Luger to the Jet2 board as independent non-executive directors.

Meeson said: "I am extremely proud of the business I and my colleagues have developed over the past 40 years and have huge respect for the newly enlarged board and the outstanding management team.

"I remain confident in the outlook for the group, but I am conscious of my age and the need to plan an orderly succession. I remain committed to Jet2 and will support my successor and the management in any way I can."

Meeson’s announcement came as Jet2 on Thursday (6 July) announced a post-Covid swing back to profit, and an uptick in package holiday demand for summer 2023.