DUBLIN, May 25 (Reuters) – 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.
That 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.
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