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

However, with its operations currently suspended, albeit with holidays on sale from 17 June, the group expects to record in its full-year 2019/20 financials an exceptional charge of £109 million arising from fuel hedging for next year and foreign currency hedges

"The impact and duration of Covid-19 remains difficult to determine, and the board has no clarity as to how this will affect group profit before foreign exchange revaluation and taxation for the financial year ending 31 March 2021," said the group.

In respect of its leisure business, Dart said it had taken several steps – beyond matters relating to staff – to "underpin the stability of the business" and preserve cash.

It has cancelled all 12 of its summer-only third-party eased aircraft in anticipation of a reduced flying programme this summer, and has deferred all non-critical capital expenditure; frozen recruitment and discretionary spending; let contractors go; and entered into discussions with suppliers to reduce outgoings.

"Positively, and despite the considerable uncertainty, we are seeing customers still making bookings for late summer 2020 and winter 2020/21, with encouraging numbers choosing to rebook rather than cancel," said the group. "In addition, and though very early, summer 2021 bookings to date are very promising."

And despite suspending its flying programme in mid-March due to the coronavirus pandemic, full-year 2019/20 flight-only passenger numbers increased 14% to 14.6 million, while package holiday customers increased 19% to 3.8 million.