Ryanair is considering returning surplus cash to shareholders in the form of dividend payments from 2012, if the airline is unable to negotiate cheaper prices for an order for new aircraft (Bloomberg, 03-Oct-2009). Meanwhile, Ryanair stated it has hedged 50% of its fuel requirements for 1Q2011 (Irish Times, 03-Oct-2009). Ryanair expects to save EUR460 million on its fuel bill in the current financial year, having hedged 90% of its oil costs at USD62 per barrel for the fourth quarter.
Ryanair: “If we stop expanding for a year or two, we'll see a big cash build-up and that should be distributed to shareholders in the event the company can't get the price it wants for new aircraft," Michael O'Leary, CEO. Source: Bloomberg, 03-Oct-2009.