Jet2holidays parent company Dart Group Plc, has secured a £300 million loan from the Bank of England’s Covid Corporate Financing Facility (CCFF).

The commercial loan is addition to an existing £100 million credit facility that Dart Group Plc has already drawn down, and is funded by the government.

In an update to the London Stock Exchange, the company said the CCFF will be used to provide “standby liquidity, should that be required”, and noted that it is currently “unutilised”.


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The Bank of England says the facility is designed to support liquidity among larger firms, helping them to bridge coronavirus disruption to their cash flows through the purchase of short-term debt in the form of commercial paper.

The trading update was also used by the company to report that it had been “encouraged by the volume of customer bookings for summer 2021 and associated pricing” for tour operator Jet2holidays and airline Jet2.com.

Philip Meeson, executive chairman, of Dart Group, said: “The group is grateful to both the Bank of England and HM Treasury for the provision of the CCFF, and together with the fully drawn Revolving Credit Facility of £100m, these two sources of additional liquidity will provide the group with headroom to deal with the present disruption and associated working capital requirements, ensuring we can continue to support our great business through this challenging period.”

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