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Jet2 staff to take 'up to 30%' pay cut

Government
James Chapple
24 April 2020

Jet2.com and Jet2holidays parent Dart Group has asked all staff – including directors – to take a pay cut of up to 30% for the six months from 1 April to 30 September.

Jet2 has seen a rise in the proportion of package holiday passengers this summer

This is despite around some 80% of the group’s UK staff already having been placed on furlough under the government’s job retention scheme, as have "many" of its overseas workers.

In a trading update issued on Friday (24 April), the group further revealed that it is seeking to confirm its eligibility for the government’s Covid Corporate Financing Facility, which has already provided £600 million to easyJet via a commercial loan.

Dart has also confirmed it had fully drawn down a £100 million revolving credit facility to boost liquidity, adding that it remains in constructive discussions with other existing liquidity providers.