Around 5,700 employees at airline Jet2 are in line to share a £58 million payout after its first sharesave scheme matured this month.
The airline launched the scheme in August 2022 and enabled employees to buy shares at a discounted option price of £7.66 each. Based on the 84% price rise since then, the return on the amount invested by employees is more than £26 million.
Those who joined the scheme can either hold or sell their shares, with an employee who invested £227 a month in the three-year scheme set to make £6,922 from their £8,172 investment. Employees investing the maximum £500 a month stand to make a gain of approximately £15,261.
Following the success of its first scheme, Jet2 has rolled out three subsequent sharesave schemes, with more than 8,900 employees participating. They can purchase shares at a 20% discount on the share price at the scheme start date.
Steve Heapy, chief executive officer of Jet2, 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 employees 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.”
Jet2.com and Jet2holidays recognise employees’ efforts in delivering customer service, but also regularly issue praise and accolades for their customer first ethos. Staff have received a 28% salary increase over the past four years, and benefit from a profit share scheme for non-management employees and a bonus scheme for management employees.
