Jet2 raises cash through share issue

LONDON - British holiday company Jet2 said it raised 422 million pounds ($582 million) through a new share issue, equivalent to 20% of its share capital prior to the fund raising, to boost its finances as the pandemic continues to stop travel.

"The board believes that the proceeds will provide sufficient liquidity on an extended and likely unpredictable shutdown basis to deal with this continually challenging trading environment," Jet2 said in a statement on Friday.