Ryanair on Monday said it had repaid its only outstanding bond, leaving it effectively debt-free for the first time since the company was listed in 1997.
The repayment of the 1.2 billion euro ($1.4 billion) unsecured eurobond from May 2021 leaves Europe’s largest airline by passenger numbers with an unencumbered fleet of 620 Boeing 737 aircraft.
The repayment of its only outstanding bond, leaves it effectively debt-free for the first time since 1997 and is set to further widen the cost gap with rivals dependent on long-term debt and leasing to finance their aircraft, Chief Financial Officer Neil Sorahan said in a statement.
“We look forward to (opportunistically) revisiting the bond markets at some stage in the future as we … take up to 50 Boeing MAX-10 deliveries annually from 2029 onward,” Sorahan said.
