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Ryanair Pays Last €1.2 Billion Bond, is Now Debt Free

Ryanair has announced that they have paid back their last €1.2 billion bond, effectively becoming one of the only commercial airlines in the world with no debt.


Ryanair Becomes Debt Free After Paying Final €1.2 Billion Bond - Courtesy Ryanair
Ryanair Becomes Debt Free After Paying Final €1.2 Billion Bond - Courtesy Ryanair

On Monday (May 25, 2026), Ryanair announced that they have repaid their last €1.2 billion bond, leaving the Ryanair Group effectively debt free as they face a challenging summer of growth, at low fares.  This is the first time since Ryanair floated in 1997 that the airline has repaid all the debt, leaving the company with an unencumbered fleet of 620 Boeing 737 Family aircraft.


In Monday’s announcement, Ryanair Group’s CFO, Neil Sorahan, said,


“Today is a historic day for Ryanair as our Group, following repayment of our final €1.2bn bond, is now effectively debt free.  Our fortress balance sheet is underpinned by an unencumbered B737 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, bringing even more value to consumers all over Europe.


“We raised this last remaining €1.2bn bond during the Covid crisis and we wish to sincerely thank our bond holders for their strong support over many years.  We look forward to (opportunistically) revisiting the bond markets at some stage in the future as we grow passenger traffic to 300m p.a. by FY34 and take up to 50 Boeing MAX-10 deliveries annually from 2029 onward.”


Ryanair Holdings, plc is Europe’s largest airline conglomerate and the parent company of Buzz, Lauda, Malta Air, and Ryanair DAC. The airline carries over 150 million passengers annually with more than 2,500 daily departures.  Ryanair serves over 200 destinations in 40 countries with a fleet of nearly 600 aircraft including Boeing 737NGs, Boeing 737-8200 Gamechangers and Airbus A320s with Lauda.  Ryanair has maintained a stellar safety record for nearly 40 years and prides itself on being “Europe’s greenest cleanest airline group,” promising customers a reduction in CO2 emissions of up to 50 percent, versus the ‘Big 4 EU major airlines.’  The company continues to grow across Europe and plans on carrying 300 million passengers annually by FY 2034. 


 

Source: Ryanair

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