Jet2 PLC on Thursday said Chair Phillip Meeson sold shares on Wednesday and Thursday this week, but does not plan to sell more in the near future.

The Leeds, England-based holiday airline said that Meeson sold 625,000 shares on Wednesday at £10.03 per share, worth £6.3 million, and sold 1.4 million shares on Thursday at £9.90 per share, worth £13.6 million.

The company said that Meeson made the sales in order to ‘diversify his investment portfolio’, but he ‘does not plan further sales in the immediate future.’

Following the sales, Meeson holds 39.3 million shares in Jet2, representing 18% of the company’s issued share capital.

On November 24, Meeson had sold 2 million shares at about £9.03 each, totalling £18.1 million, bringing his stake in the company down to 19%.

Jet2 shares were up 0.7% at 1,008.98 pence per share on Friday morning in London.

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