RYANAIR HOLDINGS PLC
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Dublin’s ISEQ Overall Index rose nearly 2.6% to just under 13,337 as banks and construction stocks gained; Bank of Ireland rose 2.1% and AIB 1.8%, while Ryanair added almost 5% and Kingspan nearly 4%. Oil fell after prospects of an Iran deal, with Brent down about 4.9% to $98.45.
Ryanair said it repaid its final outstanding €1.2bn unsecured eurobond due from May 2021, leaving the airline effectively debt-free for the first time since it listed in 1997. The company said it has an unencumbered fleet of 620 Boeing 737s and ratings of BBB+ from Fitch and S&P. CFO Neil Sorahan linked the move to lower financing costs versus rivals.
Ryanair said it repaid its final €1.2 billion bond, leaving the Ryanair Group “effectively debt free,” with an unencumbered fleet of 620 Boeing 737 aircraft, according to the company. CFO Neil Sorahan said the repayment, funded during the Covid period, widens Ryanair’s cost gap versus competitors. Ryanair added it may revisit bond markets as it targets 300m passengers annually by FY34 and up to 50 MAX-10 deliveries per year from 2029.
