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Jet2 bemoans 'lack of clarity' on travel plans as losses hit

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·2-min read
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Jet2 said there had been scant detail on the 'traffic light' framework for destinations. Photo: AP Photo/Scott Heppell
Jet2 said there had been scant detail on the 'traffic light' framework for destinations. Photo: AP Photo/Scott Heppell

Package holiday provider Jet2 (JET2.L) has said it is "disappointed" in the lack of clarity travel companies have been given as restrictions begin to ease in the UK. 

The company said there had been scant detail on the 'traffic light' framework for destinations. It also called for "full details and cost of the associated testing regime" proposed by the government's travel taskforce. 

The calls came as the group said in a trading update its losses were expected to range between £375m ($520.6m) and £385m. 

Watch: Jet2 says holidaymakers are leaving bookings until the last minute

The company said that in lieu of answers, "in fairness to all our stakeholders and especially our Customers, we took the difficult decision to extend the suspension of our flights and holidays from 17 May up to and including 23 June, by which time we are expecting more clarity."

Following the update Jet2's stock was trading around 3% higher by 9am in London. 

Travel in and out of the UK has been all but suspended for the best part of a year now. Companies had hoped to get more clarity following the successful rollout of vaccines, however fears about different, possibly vaccine resistant variants of the virus have kept borders closed.

A week in the green for Jet2. Chart: Yahoo Finance UK
A week in the green for Jet2. Chart: Yahoo Finance UK

READ MORE: Mixed open for European markets as BP and HSBC results beat expectations

On Monday, travel stocks got a boost across Europe as the EU said it would ease restrictions for fully-vaccinated visitors from other countries as the holiday season nears. 

Ursula von der Leyen, president of the European Commission, told the New York Times that the bloc would switch policy, under certain conditions, after more than a year of mostly banning non-essential travel from most countries.

It has not been confirmed when tourist travel is set to open up, however, authorities in the EU and the US are in advanced talks over how to make vaccine certificates acceptable as proof of immunity for visitors.

Watch: Should I book a holiday in 2021?

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