Ryanair has said it repaid its last €1.2 billion bond leaving the Ryanair Group "effectively debt free".
Announcing what it called "a historic day," the carrier said it is the first time since Ryanair floated in 1997 that the airline has repaid all the debt, leaving it with an unencumbered fleet of 620 B737 aircraft.
The group's Chief Financial Officer Neil Sorahan said this "further widens the cost gap" between Ryanair and their competitors.
He added that the carrier raised the funds during the Covid crisis.
"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's CFO added.
