Ryanair Holdings (LSE:0RYA) told investors it has now repaid its final €1.2bn bond, leaving the group effectively debt-free for the first time since it floated in 1997.
The move, it says, leaves Europe's largest airline group with an unencumbered fleet of 620 Boeing 737 aircraft and consolidates what the company calls a fortress balance sheet as it heads into a challenging summer of growth at low fares.
"Today is a historic day for Ryanair as our Group, following repayment of our final €1.2bn bond, is now effectively debt free," Ryanair Group CFO Neil Sorahan said.
The group raised the bond during the Covid crisis, thanked bondholders for their support and said it may opportunistically revisit bond markets as it grows passenger traffic to 300m a year by FY34 and takes up to 50 Boeing MAX-10 deliveries annually from 2029.
The company also highlighted its BBB+ ratings from Fitch and S&P and said the debt-free position widens its cost gap to competitors reliant on long-term debt and aircraft leases.
