Director dealings: Jet2 founder lowers stake

(Sharecast News) - Jet2 revealed on Wednesday that Philip Meeson had disposed of 5.0m ordinary shares in the London-listed leisure travel business. Meeson, the company's founder and largest shareholder, sold the shares to a limited number of institutional investors, representing approximately 2.3% of Jet2's issued ordinary share capital.

"Philip's rationale for the transaction has been driven by personal financial considerations alone. Philip believes that Jet2, as a market leader in the holiday business and with its firm order for 146 Airbus A321 aircraft is ideally positioned to fully take advantage of a market with huge potential. He believes there is a great future for Jet2 and he expects to continue as a very substantial shareholder in Jet2 going forward," said Jet2.

Settlement of the placing was expected to occur on 13 September.

As of 1620 BST, Jet2 shares were down 5.78% at 1,385.0p.

Reporting by Iain Gilbert at Sharecast.com

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