Once the market had got over its disappointment at the retirement of Jet2’s chairman, the shares of Britain’s biggest package holiday airline did some nifty aerobatics and headed sharply upwards.
Thursday’s 10 per cent slump was followed by a 34p bounce to £11.65, an increase of 3 per cent, as punters realised that news of the Jet2 founder’s impending exit had come with record revenues and profits.
Jet2’s bounce was somewhat unexpected, given the warnings of disruption over the summer from the actions of air traffic controllers across Europe. The City clearly has confidence in Philip Meeson, a former RAF and aerobatics pilot, and, unlike the bosses of the defunct Thomas Cook and Monarch airlines, the 75-year-old leaves on a high.
The same could
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