Dart Group PLC Supreme court rejects application to appeal (9434V)
November 03 2014 - 1:37AM
UK Regulatory
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RNS Number : 9434V
Dart Group PLC
03 November 2014
3 November 2014
DART GROUP PLC ("Dart" or "the Group")
SUPREME COURT REJECTS APPLICATION TO APPEAL IN HUZAR v JET2.COM
LTD
- PROVISION TO COVER POTENTIAL CLAIMS
Dart Group PLC, the Leisure Travel and Distribution &
Logistics Group, announces that its wholly owned operating company
Jet2.com has had its application to the Supreme Court to appeal the
Court of Appeal's earlier decision of June 2014 rejected. Jet2.com
maintained that in certain circumstances a technical defect was an
"extraordinary circumstance" under EU regulation 261.
Previously the European National Enforcement Bodies (for example
the UK Civil Aviation Authority) had agreed that unexpected
technical defects, such as the one in this case, were outside of
the control of airlines and would therefore be considered
"extraordinary" for the purposes of customer compensation.
Safety has always been Jet2.com's first priority. Aircraft have
duplicate and triplicate systems to ensure that flights may
continue to their destination safely. However, certain technical
issues can prevent or delay departures. For these the company has
back up and contingency plans to minimise inconvenience to
customers.
Dart will be making a provision of GBP17m in its current
financial year in order to cover potential historical claims
arising from the Supreme Court's decision. Going forward, the Board
estimates that the legislation may cost the Group a further
GBP3m-GBP5m per annum. The Board is currently further reviewing its
options to mitigate the future financial impact on its air travel
operations.
For further information contact:
Dart Group PLC Tel: 0113 238 7444
Philip Meeson, Group Chairman and Chief
Executive
Gary Brown, Group Chief Financial Officer
Smith & Williamson Corporate Finance Tel: 020 7131 4000
Limited
Nominated Adviser
David Jones
Canaccord Genuity - Joint Broker Tel: 020 7523 8000
Peter Stewart / Mark Whitmore
Arden Partners - Joint Broker Tel: 020 7614 5900
Christopher Hardie
Buchanan - Financial PR Tel: 020 7466 5000
Richard Oldworth
This information is provided by RNS
The company news service from the London Stock Exchange
END
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