Jet2 completes first sustainable FX agreement with Lloyds Bank as it strives to decarbonise

Jet2 Boeing 737 (Image: UK Aviation Media)
Jet2 Boeing 737 (Image: UK Aviation Media)

Leeds-Bradford based holiday airline Jet2 has completed the first Foreign Exchange (FX) agreement with Lloyds Bank which is sustainaby linked.

Carrying out sustainable transcatioms will help the airline move towards its decarbonisation goal of reducing the gCO2 emissions per passenger kilometre travelled.

Lloyds Bank has worked with Jet2 for some time on creating sustainable financial solutions including converting existinf credit line into sustainably linked loans.

Annabel Finlay, Head of Food, Drink and Leisure at Lloyds Bank said: “With fewer options immediately available to airline operators to reduce their carbon footprint compared to other industries, it is essential they have access to support and alternative ways to become more sustainable.

“That’s why we have worked hard to ensure we can best support Jet2 to meet its ambitious sustainability plans and we are proud to make our debut in the sustainability-linked FX world while doing so.”

Mark Buxton, Director of Group Finance and Treasury at Jet2, said: “The aviation industry is working hard on options to reduce its carbon footprint. Together with our recent agreement with Airbus to acquire up to 146 Airbus A321/A320neo fuel efficient aircraft and an equity investment made to secure SAF supply from a UK based production plant, working closely with our banking partners is another of the many important components of our journey to Net Zero by 2050.

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