More than 5,700 Jet2 staff are in line for a total payout of £58 million after the company’s inaugural ShareSave scheme matured.
The scheme launched in August 2022, giving colleagues the opportunity to buy shares at a discounted price of £7.66 each.
Shares have risen 84% and, now the scheme has matured, those who joined it can now either hold or sell.
Based on the rise in share price over the period from the option price of £7.66, the return on the amount invested by colleagues is more than £26 million.
A colleague who had invested the average £227 a month in the three-year scheme stands to make a gain of approximately £6,922 from their £8,172 investment. Colleagues investing the maximum £500 a month stand to make a gain of approximately £15,261, if they opt to sell.
On the back of the success of the inaugural scheme, Jet2 plc has since offered the opportunity for colleagues to participate in another three ShareSave schemes. There are now 8,900 colleagues taking part in these schemes, enabling them to purchase shares at a 20% discount to the share price at the scheme start date.
CEO Steve Heapy 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.”
