Is Jet2 Abandoning Boeing?

Jet2, the British holiday and ‘cheap flights to holiday destinations’ airline has announced an order for 36 Airbus A321 Neo aircraft, breaking with it’s Boeing reliance.

In a press release, the company said that it is pleased to announce that in order to meet the future anticipated growth of its Leisure Travel business and to refresh its existing aircraft fleet, the Company has entered into an agreement with Airbus to purchase 36 new firm ordered Airbus A321 neo aircraft and has also agreed flexibility to extend the order up to 60 aircraft.

The firm ordered aircraft deliveries stretch over five years until 2028, and at current list prices represent a total value of approximately $4.9billion, with a total transaction value for up to 60 aircraft of approximately $8.1billion, though the Company has negotiated significant discounts from the list price.

The Company will retain flexibility in determining the most favourable method of financing the aircraft, which will be through a combination of internal resources and debt.

Jet2 plc’s Executive Chairman Philip Meeson said: “We are delighted to have placed this order with Airbus and are proud to operate this aircraft which has more seats, provides additional operating benefits through lower fuel consumption and is, in our opinion, the most efficient and environmentally friendly aircraft in its class today – it will ensure our Customers have a wonderfully comfortable and enjoyable experience as they travel with us for their well-deserved holidays and can enjoy Real Package Holidays from Jet2holidays or scheduled holiday flights with Jet2.com that are increasingly more environmentally sustainable for many years to come.”

Of course, Jet2 are not adverse to operating Airbus aircraft. Prior to the Coronavirus crisis, the airline had acquired several A321’s and also has operated the Airbus A330’s on Christmas flights to New York.

This decision however looks like a significant move away from the Boeing 737 – the 800 series aircraft making up most of its fleet – and a substantial loss of a customer for Boeing.