Ryanair has redeemed all of its corporate bonds, becoming effectively debt-free.
On May 25, it redeemed the last corporate bond issued during the COVID-19 pandemic, worth 1.2 billion euros. This is the first time since Ryanair went public in 1997 that it has repaid all of its debt.
Ryanair owns around 620 Boeing 737 aircraft, all of which are unencumbered. It holds a BBB+ rating from both Fitch Ratings and S&P.
Ryanair Group Chief Financial Officer (CFO) Neil Sorahan stated that, since many competitors are burdened with large amounts of long-term debt and lease liabilities, Ryanair can continue to grow passenger numbers while offering fares that are significantly lower than those of its rivals.
From 2029 onward, the airline expects to take delivery of up to 50 Boeing 737-10 aircraft per year. It also indicated that it will consider re-entering the bond market if opportunities arise during that process.