Ryanair 'effectively debt free' following repayment of final EUR1.2bn bond
Ryanair repaid (25-May-2026) its final EUR1.2 billion bond, leaving Ryanair Group "effectively debt free" for the first time since the business floated in 1997. CFO Neil Sorahan said: "Our fortress balance sheet is underpinned by an unencumbered Boeing 737 fleet of 620 aircraft, solid ratings (BBB+) from both Fitch Ratings and S&P and strong liquidity. This financial strength further widens the cost gap between Ryanair and our competitors, many of whom are exposed to expensive long term debt and aircraft leases and will enable Ryanair to continue to grow traffic at much lower fares than our competitors". Mr Sorahan added: "We look forward to opportunistically revisiting the bond markets at some stage in the future as we grow passenger traffic to 300 million p/a by FY2034 and take up to 50 Boeing MAX 10 deliveries annually from 2029 onward". [more - original PR]
Background ✨
Ryanair reported FY2026 profit after tax of EUR2.3 billion, carried 208.4 million passengers and ended with EUR3.6 billion gross cash and EUR2.1 billion net cash, supported by an undrawn EUR1 billion revolving credit facility, after EUR1.2 billion debt repayments and more than EUR900 million in shareholder distributions1. Fitch revised Ryanair’s outlook to positive while affirming its ‘BBB+’ IDR, citing strong free cash flow and a sustained net cash position2.