Ryanair CEO impresses in €400m Covid-19 raise

By Sam Kerr
04 Sep 2020

Ryanair completed a non-pre-emptive share placing on Thursday evening to strengthen its balance sheet to withstand the next phase of the Covid-19 pandemic and to take advantage of growth opportunities. Despite analysts not thinking the company needed extra capital, sources said the company's CEO Michael O'Leary made a compelling case to investors for the need to boost its balance sheet.

Davy were the bookrunners on the deal which was sold at €11.35 a share, a 2.6% discount to the airline’s closing price on Thursday. The sale represented a capital increase of around 3.2%.

Ryanair said it decided to raise capital to guard itself against further Covid-19 uncertainty, and ...

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