Leeds-based Jet2 plc announced on Wednesday it has entered into a new revolving credit facility (RCF) with Barclays Bank, Lloyds Bank, HSBC UK Bank and National Westminster Bank.

On Tuesday, Jet2 said it ordered 35 new Airbus A320 neo aircraft worth $3.9 billion — with an option to extend this to 71 aircraft worth $8 billion.

“The new RCF which is unsecured, provides the group with available facilities of up to £300m, which is an increase on its previous RCF of £100m,” said Jet2.

“The board has also considered the group’s current liquidity position and medium term liquidity requirements and consequently has repaid in full the group’s short term loan facility of £150m which was due to mature in September 2023, with the new RCF remaining undrawn.”

Jet2 executive chairman Philip Meeson said: “We are delighted to build on our existing relationship with Barclays Bank plc, Lloyds Bank plc and HSBC UK Bank plc and to welcome National Westminster Bank plc as a key financing partner of the group.

“The increase in the RCF reflects the considerable growth of the Jet2 business and will also provide the group with additional financial flexibility for the future.”