𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Thousands of Jet2 employees are set to receive a collective payout totalling £58 million, following the maturation of the travel company’s employee share plan.

More than 5,700 staff members, who participated in the inaugural ShareSave scheme launched in 2022, will benefit from the windfall after it matured in early October.

The significant return comes after an 84 per cent surge in the firm’s share price since the scheme’s inception, rising from an initial option price of £7.66. This growth has generated over £26 million in returns on staff investments.

Workers who have invested the maximum monthly amount stand to gain £15,261 if they opt to sell their stock.

open image in gallery

Employees may choose to retain their shares and reinvest rather than taking out the potential payouts.

Steve Heapy, chief executive of Jet2 said: “We continue to grow and succeed by focusing on a simple philosophy of people, service, profits and we are delighted that our hard-working colleagues can share in the success that they helped create.

“Their passion and tireless dedication to delivering industry-leading levels of customer service is what drives our continued success, so we are incredibly pleased to see that effort rewarded through our ShareSave scheme.”

Last month, Jet2 cut its winter flight programme and said earnings will be towards the lower end of forecasts after it cautioned over a “difficult” market.

The group – which has seen the song used in its adverts, Hold My Hand by Jess Glynne, become a social media trend – said it would trim seats on sale by 200,000 to 5.6 million for the upcoming winter season, although this will still be 9 per cent higher than a year earlier.

It flagged a “less certain consumer environment” and said holidaymakers were booking even closer to the departure date.