Neil Sorahan

“Not a huge amount to add to what you've already said there other than to guide people back to the fortress balance sheet that we have, quite uniquely 620 fully unencumbered Boeing 737s on the balance sheet. Very pleased at going debt-free back in May. So a rock solid balance sheet would put us in a very strong position...”

— From Ryanair Holdings Q1 2027 Earnings Call | Passenger Traffic Gains Offset Soft Yield Pricing Pressures, i101 (May 18, 2026)

“Hedging again well insulated for the current financial year. 80% hedging at $67 a barrel. The key swing factor as was the case in Q1 for the rest of the year is going to be where the 20% unhedged fuel goes.”

— From Ryanair Holdings Q1 2027 Earnings Call | Passenger Traffic Gains Offset Soft Yield Pricing Pressures, i101 (May 18, 2026)

“We've 620 fully unencumbered Boeing 737s on the balance sheet which is quite unique for an airline. We're debt free having paid off our 1.2 billion remaining bond in May just gone. And we've got very strong investment grade ratings triple B+ from both Fitch and S&P. Liquidity strong. We finished the quarter at the end...”

— From Ryanair results April to June quarter 2027 Q&A https://youtu.be/ICllKXylIiQ, Eoghan Corry (July 20, 2026)

“We're switching a lot of capacity away from high-cost, high tax countries like Vienna in Austria, Berlin in Germany, Dublin airport, which has increased fees this year, and regional Spain. Switching that capacity to new lowcost or to lowcost destinations like Slovakia where the government has abolished environmental ta...”

— From Ryanair results April to June quarter 2027 Q&A https://youtu.be/ICllKXylIiQ, Eoghan Corry (July 20, 2026)

“Importantly, the cost gap between Ryanair and our competitor airlines continues to widen quarter-on-quarter, year-on-year. If we look at our two nearest competitors before COVID, Wizz were 26% behind Ryanair. Now that's over 81% and we would expect that to continue to grow over the next number of quarters and years. Ea...”

— From Neil Sorahan Ryanair presentationJuly 20 2026, Eoghan Corry (July 20, 2026)

“Balance sheet is rock solid, a fortress balance sheet. We're very unique, 620 Boeing 737s fully unencumbered on the balance sheet. And now, of course, having paid off our 1.2 billion euro bond in May, the group is debt free. And we're triple B plus rated by both Fitch and S&P and lots of liquidity, 2.8 billion gross ca...”

— From Neil Sorahan Ryanair presentationJuly 20 2026, Eoghan Corry (July 20, 2026)

“I think, interestingly, you're going to see a shakeout in capacity in Europe as a result of what's going on in the Middle East. There's a lot of carriers out there don't have the cost base that Ryanair has, doesn't have the balance sheet like we paid down our final bond, 1.2 billion in May. So we're now effectively deb...”

— From Ryanair Group CFO Neil Sorahan: We could see weaker airlines fail over the next few months, CNBC Television (July 20, 2026)

“You're going to see capacity coming out of the market. M&A is continuing across Europe. There's going to be failures. Capacity comes out. That means there's more risk to the upside than the downside on fares. So I think when you kind of look beyond this year into next year and beyond pricing one way, and that's up at t...”

— From Ryanair Group CFO Neil Sorahan: We could see weaker airlines fail over the next few months, CNBC Television (July 20, 2026)

“We will be debt free this day next week having paid off our final 1.2 billion bonds and a very strong unencumbered liquidity available to us.”

— From Ryanair Holdings Q4 2026 Earnings Call | Record Traffic Of 200M Passengers Drives Profit Beat, Investing 101 (May 18, 2026)

“If the war in the Middle East and the Strait of Hormuz remain closed until the end of March 2027 and oil remains at $150 a barrel, then our unit cost might rise about 5%. If that happens, there will be about three or four airlines left flying in Europe. We are by far the best hedged airline in Europe.”

— From Ryanair Holdings Q4 2026 Earnings Call | Record Traffic Of 200M Passengers Drives Profit Beat, Investing 101 (May 18, 2026)

“We deploy capacity based on where the airport incentives are at their greatest. We couldn't care less about what competitors are doing. We are taking advantage of unique growth opportunities that are now being made available to us because our competitor partners are becoming increasingly concerned that some of our flak...”

— From Ryanair Holdings Q4 2026 Earnings Call | Record Traffic Of 200M Passengers Drives Profit Beat, Investing 101 (May 18, 2026)

“We have a gross cash of 4 billion at the end of COVID and we have now paid down that 4 billion of gross debt over the last five years while funding buybacks, funding shareholder dividends, and also funding gross capex on the remainder of the Game Changer fleet. We now have no more debt to pay and the balance will be re...”

— From Ryanair Holdings Q4 2026 Earnings Call | Record Traffic Of 200M Passengers Drives Profit Beat, Investing 101 (May 18, 2026)

“The European Commission has spent the last two years talking about the competitiveness of the European economy but doing absolutely nothing about it. Can we finally persuade her as the other Europeans that it's time to abolish ETS taxes which are only applied on European citizens on intra-flight while we exempt the Ame...”

— From Ryanair Holdings Q4 2026 Earnings Call | Record Traffic Of 200M Passengers Drives Profit Beat, Investing 101 (May 18, 2026)

“We're particularly well hedged. You know, we're 80% hedged out to the end of March next year, $668 a metric ton. Uh, which is actually down on the $760 a metric ton that we were paying last year.”

— From Ryanair: don't anticipate cancellations this summer, CNBC International Live (May 19, 2026)

“I think our competitors are going to struggle significantly. They don't have the hedge lines that we have. They don't have the balance sheet that we have and they don't have the cost base that Ryanair has. So I wouldn't be surprised into the winter to see similar as we saw with Spirit in the United States, some Europea...”

— From Ryanair: don't anticipate cancellations this summer, CNBC International Live (May 19, 2026)