Ryanair pays off final bond to leave it debt-free

DUBLIN, May 25 (Reuters) - ​Ryanair ⁠on Monday said it ​had repaid its only outstanding ​bond, ‌leaving it effectively debt-free for the ⁠first time since ⁠the company was listed ​in 1997.

The repayment of the 1.2 billion euro ($1.4 billion) unsecured eurobond ​from ‌May 2021 leaves Europe's largest airline by passenger numbers with an unencumbered ​fleet of 620 Boeing 737 aircraft.

That ‌is set to further widen the cost gap ‌with rivals dependent on long-term debt and leasing to finance ​their aircraft, Chief Financial Officer Neil Sorahan ‌said in a statement.

"We look forward to (opportunistically) revisiting the bond markets at ⁠some ⁠stage in the ‌future as we ... take up to ​50 Boeing ​MAX-10 deliveries annually ‌from 2029 onward," Sorahan said.

Ryanair