Ryanair ends Q2 with €3.9bn cash

Source: Flightglobal.com
This story is sourced from Flightglobal.com

Ryanair's gross cash position reached €3.93 billion ($5.04 billion) at the end of the second quarter to 30 September, an €800 million increase from last year's corresponding period.

"The financial strength of the business is evidenced by our recent aircraft bond issue, which carried an interest cost of just under 1.7%. Ryanair has availed of historically low interest rates to secure almost 70% of our fleet financing at an all-in rate of just over 3%," says the carrier in a statement.

Gross debt since the year-earlier period increased by €190 million to €3.68 billion.

Ryanair recorded €1.2 billion in cash and cash equivalents at the end of the period, down from €1 billion at 30 September, 2011.

The Irish budget carrier generated €607 million in net cash from operating activities during the six months to 30 September, which funded net capital expenditure of €179.1 million, debt repayments, and a €67.5 million share buy-back programme.

Ryanair used €2.1 billion of cash for investing in the first six-months, up from €1.2 billion in the year-earlier period. First half capital expenditures totalled €179 million, says the carrier.