Jet2 parent firms up finances with £172m share offering

Dart said following consultation with a number of its major shareholders, an offering of just shy of 30 million shares had raised approximately £172 million additional equity for the business.

This sits in addition to the £300 million commercial loan Dart secured from the government’s Covid Corporate Financing Facility last week, and an existing £100 million credit facility Dart has already fully drawn.

It is the latest in a series of measures designed to bolster the company’s "liquidity headroom" amid what executive chairman Philip Meesen described as "this most challenging of trading environments".

In total, Dart placed 29,781,894 shares at £5.77 a share, and said demand was "significantly oversubscribed".