Jet2 has revealed that its has entered into an agreement with Airbus to purchase 35 new Airbus A320 aircraft “with the ability for this to extend to up to 71 aircraft”.

In a statement, the company said: “The firm ordered aircraft deliveries stretch over three years until 2031 and at base price represent a total value of approximately $3.9bn, with a total transaction value for up to 71 aircraft of approximately $8.0 billion, though the company has negotiated significant discounts from the base price.

“This order, which is in addition to the A321 neo aircraft orders announced in 2021, means Jet2 now has a total of 98 firm ordered aircraft, which could eventually extend to up to 146 aircraft.”

The company said it will retain flexibility in determining the most favourable method of financing the aircraft, which will be through a combination of internal resources and debt .

Jet2 plc's executive chairman Philip Meeson said: "We are delighted to build on our existing relationship with Airbus and to have placed this additional aircraft order which provides the company with certainty of supply well into the next decade.

" The order reflects our confidence that we have a much-loved product built on sector leading customer service which we can continue to grow and these aircraft will ensure our customers have a wonderfully comfortable and enjoyable experience as they travel with us for their well-deserved real package holidays from Jet2holidays or scheduled holiday flights with Jet2.com."

Jet2 operates from 10 airports across the UK; London Stansted, Manchester, Birmingham, Bristol, East Midlands, Leeds Bradford, Edinburgh, Glasgow, Newcastle and Belfast International.

Library image supplied by Jet2.com of Love Island winners Millie Court and Liam Reardon arriving at Stansted Airport in Essex following the final of the reality TV show in 2021.

Last month, bosses at Jet2 said that cash-conscious consumers turning to package holidays during tough times could bring in more customers.

Mr Meeson told Jet2’s annual general meeting he is very confident that people will opt for package holidays in an effort to cut costs on their trips away.

He added that, amid the current climate of cash-strapped households, there will be more opportunities for the airline to grow its customer base.

At the time, Mr Meeson said he was also optimistic of travel disruption easing after a fraught summer of flight delays and cancellations, and baggage handling problems causing huge pile-ups at London airports

In July, Jet2 criticised the chaos, describing airports and suppliers as “woe-fully ill-prepared and poorly resourced”.

Jet2 signs agreement with Airbus to buy new aircraft to support business growth